REV Group (NYSE:REVG) Hits New 1-Year High – Here’s What Happened

REV Group, Inc. (NYSE:REVG)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $69.92 and last traded at $69.5370, with a volume of 115196 shares. The stock had previously closed at $67.88.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on REVG shares. DA Davidson lowered REV Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $57.00 in a report on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of REV Group in a research note on Wednesday, December 24th. Zacks Research raised REV Group from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Robert W. Baird reissued a “neutral” rating and issued a $55.00 target price (down previously from $64.00) on shares of REV Group in a report on Monday, December 1st. Finally, Morgan Stanley set a $55.00 target price on shares of REV Group in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.25.

REV Group Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.49. The company has a market capitalization of $3.37 billion, a PE ratio of 36.11 and a beta of 1.14. The stock has a 50-day simple moving average of $59.50 and a 200 day simple moving average of $55.97.

REV Group (NYSE:REVG) last announced its quarterly earnings results on Wednesday, December 10th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. REV Group had a return on equity of 31.67% and a net margin of 3.86%.The business had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $646.77 million. During the same quarter last year, the business posted $0.51 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts anticipate that REV Group, Inc. will post 2.12 EPS for the current fiscal year.

REV Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, December 24th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. REV Group’s payout ratio is presently 12.57%.

Institutional Trading of REV Group

Several large investors have recently modified their holdings of REVG. Smartleaf Asset Management LLC lifted its stake in REV Group by 298.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 546 shares of the company’s stock valued at $31,000 after buying an additional 409 shares in the last quarter. IFP Advisors Inc increased its position in REV Group by 798.5% during the third quarter. IFP Advisors Inc now owns 593 shares of the company’s stock worth $34,000 after buying an additional 527 shares in the last quarter. Covestor Ltd raised its holdings in shares of REV Group by 22,600.0% in the third quarter. Covestor Ltd now owns 681 shares of the company’s stock worth $39,000 after acquiring an additional 678 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of REV Group in the second quarter valued at $38,000. Finally, Farther Finance Advisors LLC lifted its position in shares of REV Group by 19.1% in the third quarter. Farther Finance Advisors LLC now owns 1,131 shares of the company’s stock valued at $64,000 after acquiring an additional 181 shares in the last quarter.

About REV Group

REV Group, Inc (NYSE: REVG) is a diversified manufacturer of specialty vehicles serving public safety, healthcare, transportation and recreation markets. The company designs, engineers and produces a broad range of products, including fire and emergency apparatus, transit and shuttle buses, work trucks, ambulances and recreational vehicles. Through its integrated platform, REV Group combines engineering expertise with customer-focused assembly to deliver purpose-built solutions that meet the exact specifications of fleet operators, municipalities and individual consumers.

The company’s product portfolio is organized into three primary segments.