Skyline (NYSEAMERICAN:SKY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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

Several other research firms have also recently commented on SKY. Royal Bank of Canada started coverage on Skyline in a research report on Tuesday, August 28th. They set an “outperform” rating and a $33.00 price objective on the stock. Barclays started coverage on Skyline in a research report on Tuesday, October 2nd. They set an “overweight” rating and a $35.00 price objective on the stock. Jefferies Financial Group started coverage on Skyline in a research report on Friday, September 7th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, SunTrust Banks started coverage on Skyline in a research report on Tuesday, September 4th. They set a “hold” rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.40.

NYSEAMERICAN SKY opened at $22.14 on Wednesday. Skyline has a 12 month low of $11.60 and a 12 month high of $35.65.

Skyline (NYSEAMERICAN:SKY) last released its quarterly earnings data on Monday, November 5th. The construction company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $355.44 million for the quarter, compared to analysts’ expectations of $368.20 million.

In other Skyline news, CEO Keith A. Anderson sold 89,378 shares of Skyline stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $29.25, for a total value of $2,614,306.50. Following the sale, the chief executive officer now owns 1,281,596 shares of the company’s stock, valued at approximately $37,486,683. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bain Capital Credit Member, Ll sold 3,777,089 shares of Skyline stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $27.93, for a total value of $105,494,095.77. The disclosure for this sale can be found here. Insiders have sold a total of 7,642,729 shares of company stock worth $213,658,869 in the last three months.

A number of large investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its stake in Skyline by 216.3% in the 3rd quarter. Morgan Stanley now owns 54,964 shares of the construction company’s stock worth $1,570,000 after acquiring an additional 37,585 shares during the last quarter. Legal & General Group Plc increased its stake in Skyline by 317.7% in the 3rd quarter. Legal & General Group Plc now owns 4,307 shares of the construction company’s stock worth $123,000 after acquiring an additional 3,276 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Skyline by 648.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 114,300 shares of the construction company’s stock worth $3,266,000 after acquiring an additional 99,024 shares during the last quarter. Teachers Advisors LLC increased its stake in Skyline by 814.1% in the 3rd quarter. Teachers Advisors LLC now owns 79,984 shares of the construction company’s stock worth $2,285,000 after acquiring an additional 71,234 shares during the last quarter. Finally, MetLife Investment Advisors LLC bought a new stake in Skyline in the 3rd quarter worth approximately $586,000.

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.

Featured Article: What is the yield curve?

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.