Zacks Investment Research Reiterates Hold Rating for Skyline (NYSEAMERICAN:SKY)

Skyline (NYSEAMERICAN:SKY)‘s stock had its “hold” rating reaffirmed by Zacks Investment Research in a research note issued 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 target price on shares of Skyline and gave the stock a “buy” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $26.71.

Shares of Skyline stock traded up $0.42 during trading hours on Friday, reaching $27.38. The company’s stock had a trading volume of 2,929,256 shares, compared to its average volume of 653,298. Skyline has a one year low of $12.72 and a one year high of $35.29.

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

In related news, SVP Roger K. Scholten sold 5,329 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $22.02, for a total transaction of $117,344.58. Following the transaction, the senior vice president now directly owns 186,782 shares in the company, valued at approximately $4,112,939.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Laurie M. Hough sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $23.03, for a total transaction of $115,150.00. Following the transaction, the chief financial officer now owns 255,125 shares in the company, valued at $5,875,528.75. The disclosure for this sale can be found here. Insiders have sold a total of 813,845 shares of company stock worth $19,792,317 over the last quarter.

A number of institutional investors have recently added to or reduced their stakes in SKY. Great West Life Assurance Co. Can purchased a new stake in Skyline in the 4th quarter valued at about $36,000. Oppenheimer Asset Management Inc. boosted its position in Skyline by 39.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,872 shares of the construction company’s stock valued at $36,000 after buying an additional 532 shares during the period. New York State Teachers Retirement System purchased a new stake in Skyline in the 1st quarter valued at about $48,000. Legal & General Group Plc boosted its position in Skyline by 19.4% in the 4th quarter. Legal & General Group Plc now owns 5,144 shares of the construction company’s stock valued at $75,000 after buying an additional 837 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Skyline by 40.7% in the 1st quarter. Victory Capital Management Inc. now owns 4,307 shares of the construction company’s stock valued at $82,000 after buying an additional 1,246 shares during the period.

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.

Read More: What is a Backdoor Roth IRA?

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.