Skyline (NYSEAMERICAN:SKY) Hits New 1-Year High at $34.20

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Skyline Co. (NYSEAMERICAN:SKY) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $34.20 and last traded at $33.78, with a volume of 29788 shares traded. The stock had previously closed at $32.80.

Several research analysts have commented on the stock. Royal Bank of Canada set a $34.00 target price on shares of Skyline and gave the stock a “buy” rating in a report on Friday, November 1st. Zacks Investment Research cut shares of Skyline from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $31.00.

In other news, Director Keith A. Anderson sold 15,924 shares of Skyline stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $31.47, for a total value of $501,128.28. Following the transaction, the director now owns 754,694 shares of the company’s stock, valued at $23,750,220.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark J. Yost sold 16,500 shares of Skyline stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $28.43, for a total transaction of $469,095.00. Following the completion of the transaction, 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. Over the last quarter, insiders sold 145,722 shares of company stock valued at $4,521,293.

Several large investors have recently added to or reduced their stakes in SKY. 12th Street Asset Management Company LLC increased its position in Skyline by 227.1% during the second quarter. 12th Street Asset Management Company LLC now owns 614,556 shares of the construction company’s stock worth $16,827,000 after acquiring an additional 426,665 shares during the period. Rice Hall James & Associates LLC acquired a new stake in Skyline during the second quarter worth $9,216,000. California Public Employees Retirement System boosted its stake in Skyline by 346.1% during the third quarter. California Public Employees Retirement System now owns 104,221 shares of the construction company’s stock worth $3,136,000 after buying an additional 80,856 shares in the last quarter. Sawtooth Solutions LLC acquired a new stake in Skyline during the second quarter worth $379,000. Finally, Russell Investments Group Ltd. acquired a new stake in Skyline during the third quarter worth $4,086,000.

About Skyline (NYSEAMERICAN:SKY)

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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