Short Interest in The Shyft Group, Inc. (NASDAQ:SHYF) Drops By 16.9%

The Shyft Group, Inc. (NASDAQ:SHYF) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 320,300 shares, a drop of 16.9% from the February 13th total of 385,400 shares. Based on an average daily trading volume, of 251,800 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

SHYF has been the topic of several recent research reports. Roth Mkm reiterated a “buy” rating and issued a $16.00 price objective on shares of The Shyft Group in a research report on Tuesday, December 17th. DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Wednesday, January 15th.

The Shyft Group Stock Performance

The Shyft Group stock opened at $9.40 on Wednesday. The stock has a fifty day moving average of $11.06 and a two-hundred day moving average of $12.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.82. The company has a market capitalization of $328.22 million, a price-to-earnings ratio of -104.43 and a beta of 1.69. The Shyft Group has a fifty-two week low of $8.27 and a fifty-two week high of $17.56.

The Shyft Group (NASDAQ:SHYF) last released its earnings results on Thursday, February 20th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The company had revenue of $201.43 million during the quarter, compared to analysts’ expectations of $211.90 million. The Shyft Group had a negative net margin of 0.36% and a positive return on equity of 2.75%. On average, analysts anticipate that The Shyft Group will post 0.68 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, February 27th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, February 27th. The Shyft Group’s payout ratio is currently -222.22%.

Institutional Investors Weigh In On The Shyft Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of The Shyft Group during the 4th quarter worth about $41,000. Quantbot Technologies LP acquired a new position in The Shyft Group during the fourth quarter valued at approximately $48,000. Tower Research Capital LLC TRC grew its stake in The Shyft Group by 77.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,403 shares of the company’s stock worth $52,000 after buying an additional 1,919 shares during the period. Quarry LP increased its position in shares of The Shyft Group by 317.7% in the fourth quarter. Quarry LP now owns 6,081 shares of the company’s stock worth $71,000 after acquiring an additional 4,625 shares in the last quarter. Finally, FMR LLC increased its position in shares of The Shyft Group by 301.4% in the third quarter. FMR LLC now owns 7,726 shares of the company’s stock worth $97,000 after acquiring an additional 5,801 shares in the last quarter. 85.84% of the stock is currently owned by institutional investors and hedge funds.

The Shyft Group Company Profile

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.