Zacks Investment Research cut shares of Skyline (NYSEAMERICAN:SKY) from a hold rating to a sell rating in a research report released on Wednesday.

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

SKY has been the topic of several other research reports. Royal Bank of Canada set a $34.00 target price on Skyline and gave the company a buy rating in a research note on Wednesday, November 7th. Credit Suisse Group assumed coverage on Skyline in a research note on Thursday, November 29th. They issued a neutral rating and a $25.00 target price on the stock. SunTrust Banks assumed coverage on Skyline in a research note on Tuesday, September 4th. They issued a hold rating and a $30.00 target price on the stock. Jefferies Financial Group assumed coverage on Skyline in a research note on Friday, September 7th. They issued a buy rating and a $36.00 target price on the stock. Finally, Barclays assumed coverage on Skyline in a research note on Tuesday, October 2nd. They issued an overweight rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Skyline currently has an average rating of Hold and a consensus target price of $32.83.

Shares of SKY opened at $17.62 on Wednesday. Skyline has a 52-week low of $12.02 and a 52-week high of $35.65.

Skyline (NYSEAMERICAN:SKY) last issued its quarterly earnings data on Monday, November 5th. The construction company reported $0.23 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $355.44 million during the quarter, compared to analyst estimates of $368.20 million.

In other news, SVP Roger K. Scholten sold 12,373 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $29.25, for a total transaction of $361,910.25. Following the sale, the senior vice president now owns 177,407 shares in the company, valued at approximately $5,189,154.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark J. Yost sold 35,421 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $29.25, for a total value of $1,036,064.25. Following the sale, the executive vice president now owns 507,898 shares in the company, valued at approximately $14,856,016.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,655,229 shares of company stock worth $279,331,369.

Several institutional investors have recently made changes to their positions in SKY. Mak Capital One LLC bought a new stake in shares of Skyline during the 2nd quarter worth approximately $478,443,000. Wells Fargo & Company MN increased its holdings in shares of Skyline by 1,097.1% during the 3rd quarter. Wells Fargo & Company MN now owns 1,578,346 shares of the construction company’s stock worth $45,093,000 after acquiring an additional 1,446,494 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Skyline by 200.8% during the 3rd quarter. BlackRock Inc. now owns 1,562,896 shares of the construction company’s stock worth $44,651,000 after acquiring an additional 1,043,297 shares during the last quarter. FMR LLC increased its holdings in shares of Skyline by 656.9% during the 3rd quarter. FMR LLC now owns 1,052,297 shares of the construction company’s stock worth $30,064,000 after acquiring an additional 913,272 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Skyline by 196.0% during the 3rd quarter. Vanguard Group Inc. now owns 970,946 shares of the construction company’s stock worth $27,740,000 after acquiring an additional 642,938 shares during the last quarter.

About Skyline

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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