JPMorgan Chase & Co. Acquires 283,706 Shares of REV Group, Inc. $REVG

JPMorgan Chase & Co. raised its holdings in shares of REV Group, Inc. (NYSE:REVG) by 111.1% during the third quarter, HoldingsChannel reports. The firm owned 539,133 shares of the company’s stock after purchasing an additional 283,706 shares during the period. JPMorgan Chase & Co.’s holdings in REV Group were worth $30,553,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cookson Peirce & Co. Inc. purchased a new position in REV Group during the third quarter valued at approximately $1,235,000. Westover Capital Advisors LLC bought a new stake in REV Group during the 3rd quarter valued at $795,000. LSV Asset Management boosted its position in REV Group by 4.1% during the 3rd quarter. LSV Asset Management now owns 470,398 shares of the company’s stock valued at $26,657,000 after acquiring an additional 18,731 shares in the last quarter. Navellier & Associates Inc. increased its holdings in shares of REV Group by 68.1% in the 3rd quarter. Navellier & Associates Inc. now owns 31,760 shares of the company’s stock valued at $1,800,000 after acquiring an additional 12,866 shares during the period. Finally, Plato Investment Management Ltd bought a new position in shares of REV Group in the 3rd quarter worth $253,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on REVG. Weiss Ratings reiterated a “buy (b-)” rating on shares of REV Group in a research note on Wednesday, December 24th. Zacks Research upgraded shares of REV Group from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Morgan Stanley set a $55.00 price objective on shares of REV Group in a research report on Tuesday, November 4th. Finally, Robert W. Baird restated a “neutral” rating and issued a $55.00 target price (down from $64.00) on shares of REV Group in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $49.25.

REV Group Stock Performance

Shares of REV Group stock opened at $63.90 on Friday. The firm’s 50 day simple moving average is $64.63 and its two-hundred day simple moving average is $58.97. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 33.46 and a beta of 1.14. REV Group, Inc. has a 12-month low of $26.51 and a 12-month high of $69.92. The company has a current ratio of 1.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.10.

REV Group (NYSE:REVG) last announced its quarterly earnings data 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 net margin of 3.86% and a return on equity of 31.67%. The firm had revenue of $664.40 million for the quarter, compared to analyst estimates of $646.77 million. During the same period in the previous year, the company earned $0.51 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts predict that REV Group, Inc. will post 2.12 EPS for the current year.

REV Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. REV Group’s dividend payout ratio is currently 12.57%.

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.