Skyline Co. (NYSEAMERICAN:SKY) Receives $29.00 Average Price Target from Brokerages

Skyline Co. (NYSEAMERICAN:SKY) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $29.00.

Several brokerages have commented on SKY. Barclays reiterated a “buy” rating and set a $34.00 target price on shares of Skyline in a research note on Sunday, August 4th. Zacks Investment Research upgraded Skyline from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research note on Saturday, August 3rd. Finally, Royal Bank of Canada set a $28.00 price target on Skyline and gave the stock a “buy” rating in a research note on Thursday, May 23rd.

In related news, Director Keith A. Anderson sold 15,924 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $31.47, for a total value of $501,128.28. Following the transaction, the director now directly owns 754,694 shares of the company’s stock, valued at approximately $23,750,220.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Timothy A. Burkhardt sold 5,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $27.51, for a total value of $137,550.00. Following the completion of the transaction, the vice president now directly owns 46,359 shares in the company, valued at $1,275,336.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 628,118 shares of company stock worth $17,455,854.

A number of institutional investors have recently made changes to their positions in SKY. Marshall Wace LLP raised its holdings in Skyline by 2,307.1% in 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 period. Nuveen Asset Management LLC bought a new position in Skyline in the 2nd quarter worth $26,062,000. Peregrine Capital Management LLC bought a new position in Skyline in the 2nd quarter worth $24,364,000. BlackRock Inc. raised its holdings in Skyline by 25.4% in the 2nd quarter. BlackRock Inc. now owns 3,940,394 shares of the construction company’s stock worth $107,889,000 after purchasing an additional 797,675 shares during the period. Finally, Wasatch Advisors Inc. raised its holdings in Skyline by 147.7% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,154,702 shares of the construction company’s stock worth $31,616,000 after purchasing an additional 688,517 shares during the period.

Shares of SKY opened at $31.01 on Tuesday. Skyline has a 12 month low of $12.72 and a 12 month high of $32.44.

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

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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Analyst Recommendations for Skyline (NYSEAMERICAN:SKY)

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