Skyline (SKY) Receives New Coverage from Analysts at Jefferies Financial Group

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Jefferies Financial Group initiated coverage on shares of Skyline (NYSEAMERICAN:SKY) in a research note released on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $36.00 price objective on the construction company’s stock.

Several other research analysts have also commented on SKY. Craig Hallum began coverage on shares of Skyline in a research note on Thursday, May 24th. They issued a buy rating and a $37.00 price objective for the company. SunTrust Banks began coverage on shares of Skyline in a research note on Tuesday. They issued a hold rating and a $30.00 price objective for the company. Finally, Royal Bank of Canada began coverage on shares of Skyline in a research note on Tuesday, August 28th. They issued an outperform rating and a $33.00 price objective for the company. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Skyline presently has an average rating of Buy and an average price target of $34.00.

Shares of SKY traded up $0.81 during trading on Friday, reaching $28.39. 227,899 shares of the company traded hands, compared to its average volume of 166,721. Skyline has a twelve month low of $10.31 and a twelve month high of $35.65.

In related news, insider Bain Capital Credit Member, Ll sold 2,871,063 shares of Skyline stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $20.79, for a total value of $59,689,399.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Roger K. Scholten sold 11,081 shares of Skyline stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $22.00, for a total transaction of $243,782.00. The disclosure for this sale can be found here. In the last three months, insiders sold 6,282,837 shares of company stock valued at $130,807,419.

A number of institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its stake in Skyline by 24.3% in the first quarter. Northern Trust Corp now owns 25,867 shares of the construction company’s stock worth $570,000 after acquiring an additional 5,056 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Skyline in the first quarter worth approximately $117,000. Rhumbline Advisers purchased a new position in Skyline in the second quarter worth approximately $289,000. Barclays PLC purchased a new position in Skyline in the first quarter worth approximately $187,000. Finally, California Public Employees Retirement System purchased a new position in Skyline in the first quarter worth approximately $218,000.

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.

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