Skyline (NYSEAMERICAN:SKY) Downgraded by Zacks Investment Research

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

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

A number of other research analysts have also weighed in on the stock. Barclays reissued a buy rating and set a $34.00 price target on shares of Skyline in a research report on Sunday, August 4th. Royal Bank of Canada set a $34.00 price target on shares of Skyline and gave the company a buy rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $30.00.

Shares of SKY traded up $0.71 during trading hours on Thursday, reaching $30.16. 186,265 shares of the stock traded hands, compared to its average volume of 564,704. Skyline has a 52 week low of $12.72 and a 52 week high of $32.44.

In other Skyline news, CFO Laurie M. Hough sold 41,222 shares of Skyline stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $30.50, for a total value of $1,257,271.00. Following the sale, the chief financial officer now owns 170,228 shares of the company’s stock, valued at $5,191,954. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark J. Yost sold 16,500 shares of Skyline stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $28.43, for a total transaction of $469,095.00. Following the completion of the sale, the chief executive officer now directly owns 369,814 shares in the company, valued at approximately $10,513,812.02. The disclosure for this sale can be found here. Insiders have sold 154,222 shares of company stock worth $4,665,293 over the last three months.

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A number of hedge funds have recently made changes to their positions in SKY. Advisor Group Inc. increased its stake in shares of Skyline by 99.1% in the second quarter. Advisor Group Inc. now owns 1,734 shares of the construction company’s stock worth $48,000 after purchasing an additional 863 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Skyline by 160.0% in the second quarter. Royal Bank of Canada now owns 2,093 shares of the construction company’s stock worth $57,000 after purchasing an additional 1,288 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Skyline in the third quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Skyline by 81.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,412 shares of the construction company’s stock worth $93,000 after purchasing an additional 1,534 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of Skyline in the second quarter worth about $99,000.

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.

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