Zacks Investment Research upgraded shares of Skyline (NYSEAMERICAN:SKY) from a sell rating to a hold rating in a research note released on Saturday, Zacks.com reports.

According to Zacks, “Skyline Corporation designs, produces and distributes manufactured housing and recreational vehicles. “

Separately, Royal Bank of Canada set a $28.00 price target on shares of Skyline and gave the company a buy rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $26.71.

NYSEAMERICAN:SKY opened at $26.65 on Friday. Skyline has a one year low of $12.72 and a one year high of $35.65.

Skyline (NYSEAMERICAN:SKY) last posted its quarterly earnings results on Tuesday, May 21st. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $327.68 million during the quarter, compared to analysts’ expectations of $348.50 million.

In other news, CEO Keith A. Anderson sold 82,799 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $24.01, for a total transaction of $1,988,003.99. Following the sale, the chief executive officer now directly owns 1,312,846 shares of the company’s stock, valued at approximately $31,521,432.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Roger K. Scholten sold 900 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $28.00, for a total transaction of $25,200.00. Following the sale, the senior vice president now directly owns 160,882 shares in the company, valued at $4,504,696. The disclosure for this sale can be found here. Over the last three months, insiders have sold 813,845 shares of company stock worth $19,792,317.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc acquired a new position in shares of Skyline during the 4th quarter worth about $146,000. First Trust Advisors LP acquired a new position in shares of Skyline during the 4th quarter worth about $1,249,000. Marshall Wace LLP raised its position in shares of Skyline by 2,307.1% during the 1st quarter. Marshall Wace LLP now owns 1,133,725 shares of the construction company’s stock worth $21,540,000 after purchasing an additional 1,086,625 shares during the last quarter. Robotti Robert raised its position in shares of Skyline by 67.5% during the 4th quarter. Robotti Robert now owns 259,940 shares of the construction company’s stock worth $3,819,000 after purchasing an additional 104,740 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Skyline by 96.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 786,639 shares of the construction company’s stock worth $11,555,000 after purchasing an additional 385,314 shares during the last quarter.

Skyline Company Profile

Skyline Corporation designs, produces, and markets manufactured housing, modular housing, and park models to independent dealers and manufactured housing communities in the United States and Canada. The company's manufactured housing models include two to four bedrooms, kitchen, dining area, living room, one or two bathrooms, kitchen appliances, and central heating and cooling products, as well as exterior dormers and windows, interior or exterior accent columns, fireplaces, and whirlpool tubs.

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Analyst Recommendations for Skyline (NYSEAMERICAN:SKY)

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