Skyline Co. (NYSEAMERICAN:SKY) shot up 13.9% on Wednesday following a stronger than expected earnings report. The stock traded as high as $25.00 and last traded at $24.80. 1,798,095 shares traded hands during trading, an increase of 178% from the average session volume of 646,082 shares. The stock had previously closed at $21.78.

The construction company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The business had revenue of $327.68 million during the quarter, compared to analyst estimates of $348.50 million.

Several equities analysts recently commented on SKY shares. SunTrust Banks upgraded Skyline from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Thursday, January 31st. Craig Hallum reiterated a “buy” rating and issued a $30.00 target price (down from $37.00) on shares of Skyline in a research note on Thursday, February 7th. Finally, Zacks Investment Research lowered Skyline from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Skyline presently has a consensus rating of “Buy” and an average price target of $27.57.

In other Skyline news, SVP Roger K. Scholten sold 4,394 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $22.05, for a total transaction of $96,887.70. Following the completion of the sale, the senior vice president now directly owns 197,388 shares in the company, valued at $4,352,405.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mak Capital One Llc sold 1,500,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $20.21, for a total value of $30,315,000.00. The disclosure for this sale can be found here. Insiders sold 1,509,723 shares of company stock valued at $30,529,232 over the last quarter.

A number of large investors have recently made changes to their positions in SKY. Bank of New York Mellon Corp increased its stake in Skyline by 243.7% during the third quarter. Bank of New York Mellon Corp now owns 65,742 shares of the construction company’s stock worth $1,879,000 after acquiring an additional 46,614 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Skyline by 809.5% during the third quarter. JPMorgan Chase & Co. now owns 41,319 shares of the construction company’s stock worth $1,180,000 after acquiring an additional 36,776 shares during the last quarter. Teachers Advisors LLC increased its stake in Skyline by 814.1% during the third 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. TIAA CREF Investment Management LLC increased its stake in Skyline by 648.2% during the third 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. Finally, Legal & General Group Plc increased its stake in Skyline by 317.7% during the third 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.

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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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