Zacks Investment Research upgraded shares of Rev Group (NYSE:REVG) from a strong sell rating to a buy rating in a research note published on Thursday morning. Zacks Investment Research currently has $10.00 target price on the stock.
According to Zacks, “REV Group, Inc. designs, manufactures and distributes specialty vehicles, and related aftermarket parts and services. Its operating segment includes Fire & Emergency, Commercial and Recreation. Fire & Emergency segment provides ambulances, fire apparatus, school buses, mobility vans and municipal transit buses. Commercial segment provides industrial and commercial services through terminal trucks, cut-away buses and street sweepers. Recreation segment provides consumer leisure through recreational vehicles and luxury buses. REV Group, Inc. is headquartered in Milwaukee, WI. “
A number of other brokerages have also recently issued reports on REVG. Wells Fargo & Co reduced their price objective on Rev Group from $16.00 to $14.00 and set a market perform rating on the stock in a research note on Tuesday, December 4th. Morgan Stanley set a $17.00 price objective on Rev Group and gave the company a hold rating in a research note on Friday, October 26th. Credit Suisse Group cut Rev Group from an outperform rating to a neutral rating and cut their target price for the stock from $16.00 to $8.00 in a research note on Tuesday, January 22nd. SunTrust Banks set a $8.00 target price on Rev Group and gave the stock a hold revg rating in a research note on Monday, December 24th. Finally, Robert W. Baird cut their target price on Rev Group from $15.00 to $11.00 and set an outperform rating on the stock in a research note on Friday, December 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $11.67.
Shares of NYSE:REVG traded up $0.03 on Thursday, reaching $9.16. 3,307 shares of the company traded hands, compared to its average volume of 359,001. Rev Group has a 52 week low of $6.41 and a 52 week high of $28.50. The stock has a market capitalization of $572.27 million, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 1.47 and a beta of 2.77. The company has a current ratio of 2.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.79.
Rev Group (NYSE:REVG) last announced its quarterly earnings data on Wednesday, December 19th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23). Rev Group had a net margin of 0.55% and a return on equity of 11.18%. The company had revenue of $659.80 million for the quarter, compared to the consensus estimate of $709.58 million. During the same period last year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, research analysts predict that Rev Group will post 1.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, January 31st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $0.20 annualized dividend and a dividend yield of 2.18%. Rev Group’s payout ratio is presently 19.42%.
Several hedge funds and other institutional investors have recently bought and sold shares of REVG. Covington Capital Management purchased a new stake in Rev Group in the fourth quarter worth about $29,000. Metropolitan Life Insurance Co. NY lifted its holdings in Rev Group by 269.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,683 shares of the company’s stock worth $80,000 after buying an additional 7,792 shares during the period. Citigroup Inc. lifted its holdings in Rev Group by 79.0% in the fourth quarter. Citigroup Inc. now owns 13,148 shares of the company’s stock worth $99,000 after buying an additional 5,803 shares during the period. Virtu Financial LLC purchased a new stake in Rev Group in the fourth quarter worth about $124,000. Finally, Nisa Investment Advisors LLC purchased a new stake in Rev Group in the fourth quarter worth about $205,000.
Rev Group Company Profile
REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, Latin America, the Caribbean, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment offers a range of fire apparatus and ambulance products for municipalities and private contractors.
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