REV Group (NYSE:REVG) Trading Down 6.5% – Here’s Why

REV Group, Inc. (NYSE:REVG) dropped 6.5% during trading on Wednesday . The company traded as low as $28.75 and last traded at $29.74. Approximately 192,482 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 686,464 shares. The stock had previously closed at $31.81.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley downgraded shares of REV Group from an “equal weight” rating to an “underweight” rating and set a $33.00 price objective for the company. in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, REV Group currently has a consensus rating of “Hold” and a consensus target price of $34.63.

REV Group Stock Down 6.9 %

The company has a market cap of $1.53 billion, a PE ratio of 6.60 and a beta of 1.22. The company has a quick ratio of 0.43, a current ratio of 1.72 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average is $31.31 and its 200-day moving average is $31.04.

REV Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, March 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.81%. REV Group’s dividend payout ratio is presently 13.48%.

Institutional Trading of REV Group

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its stake in REV Group by 26.7% during the 4th quarter. FMR LLC now owns 7,819,739 shares of the company’s stock valued at $249,215,000 after purchasing an additional 1,646,293 shares in the last quarter. Vanguard Group Inc. raised its position in REV Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,238,928 shares of the company’s stock worth $166,965,000 after buying an additional 39,323 shares during the last quarter. Invesco Ltd. raised its stake in shares of REV Group by 43.4% during the 4th quarter. Invesco Ltd. now owns 1,731,557 shares of the company’s stock valued at $55,185,000 after buying an additional 524,369 shares during the last quarter. Geode Capital Management LLC raised its position in REV Group by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 1,384,108 shares of the company’s stock valued at $44,121,000 after acquiring an additional 79,243 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of REV Group by 3.3% during the 3rd quarter. State Street Corp now owns 1,089,130 shares of the company’s stock valued at $30,615,000 after purchasing an additional 35,066 shares in the last quarter.

About REV Group

REV Group, Inc, together with its subsidiaries, designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Canada, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment provides fire apparatus equipment under the Emergency One, Kovatch Mobile Equipment, Ferrara, Spartan Emergency Response, Smeal, Spartan Fire Chassis, and Ladder Tower brand names; and ambulances under the American Emergency Vehicles, Horton Emergency Vehicles, Leader Emergency Vehicles, Road Rescue, and Wheeled Coach brand names.