Skyline (NYSEAMERICAN:SKY) Upgraded to Buy by Zacks Investment Research

Share on StockTwits

Skyline (NYSEAMERICAN:SKY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, Zacks.com reports. The firm presently has a $35.00 price objective on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.89% from the stock’s current price.

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

Separately, Barclays reissued a “buy” rating and issued a $34.00 price target on shares of Skyline in a report on Sunday, August 4th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Skyline has an average rating of “Buy” and a consensus price target of $29.00.

Shares of NYSEAMERICAN:SKY opened at $31.28 on Friday. Skyline has a 12 month low of $12.72 and a 12 month high of $32.44.

Skyline (NYSEAMERICAN:SKY) last posted its earnings results on Wednesday, July 31st. The construction company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. The company had revenue of $372.00 million during the quarter, compared to analyst estimates of $356.76 million. During the same quarter last year, the business posted $0.03 EPS. Skyline’s quarterly revenue was up 15.4% compared to the same quarter last year.

In related news, CFO Laurie M. Hough sold 41,222 shares of Skyline stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $30.50, for a total transaction of $1,257,271.00. Following the completion of the sale, the chief financial officer now owns 170,228 shares of the company’s stock, valued at $5,191,954. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Wade Lyall sold 3,500 shares of Skyline stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.21, for a total value of $95,235.00. Following the sale, the executive vice president now directly owns 40,838 shares of the company’s stock, valued at approximately $1,111,201.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 277,846 shares of company stock worth $8,185,195.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Skyline by 22.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,169 shares of the construction company’s stock valued at $125,000 after purchasing an additional 757 shares during the last quarter. NEXT Financial Group Inc boosted its position in Skyline by 8,222.0% during the third quarter. NEXT Financial Group Inc now owns 8,322 shares of the construction company’s stock valued at $250,000 after purchasing an additional 8,222 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Skyline by 4.4% during the third quarter. Envestnet Asset Management Inc. now owns 95,184 shares of the construction company’s stock valued at $2,864,000 after purchasing an additional 4,024 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in Skyline during the second quarter valued at $2,336,000. Finally, River & Mercantile Asset Management LLP acquired a new stake in Skyline during the second quarter valued at $1,637,000.

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.

Read More: Portfolio Manager

Get a free copy of the Zacks research report on Skyline (SKY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Skyline (NYSEAMERICAN:SKY)

Receive News & Ratings for Skyline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skyline and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Great Lakes Advisors LLC Cuts Stock Holdings in Jones Lang LaSalle Inc
Great Lakes Advisors LLC Cuts Stock Holdings in Jones Lang LaSalle Inc
Great Lakes Advisors LLC Boosts Stock Position in Martin Marietta Materials, Inc.
Great Lakes Advisors LLC Boosts Stock Position in Martin Marietta Materials, Inc.
Great Lakes Advisors LLC Sells 1,112 Shares of Gildan Activewear Inc
Great Lakes Advisors LLC Sells 1,112 Shares of Gildan Activewear Inc
Systematic Financial Management LP Makes New Investment in Tripadvisor Inc
Systematic Financial Management LP Makes New Investment in Tripadvisor Inc
Great Lakes Advisors LLC Sells 413 Shares of Netflix, Inc.
Great Lakes Advisors LLC Sells 413 Shares of Netflix, Inc.
NIC Inc.  Shares Sold by Systematic Financial Management LP
NIC Inc. Shares Sold by Systematic Financial Management LP


 
© 2006-2019 Zolmax.