The Shyft Group (NASDAQ:SHYF) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of The Shyft Group (NASDAQ:SHYF) from a hold rating to a buy rating in a research note issued to investors on Friday, Zacks.com reports. Zacks Investment Research currently has $42.00 price target on the stock.

According to Zacks, “The Shyft Group Inc. is a specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty vehicle markets. The company’s business unit consist Shyft Fleet Vehicles and Services and Shyft Specialty Vehicles. It serves vocations, federal, state, and local government entities. The company operates principally in Michigan, Indiana, Pennsylvania, South Carolina, Florida, Missouri, California, Arizona, Texas and Saltillo, Mexico. The Shyft Group Inc., formerly known as Spartan Motors Inc., is based in MI, United States. “

Separately, Raymond James raised their target price on The Shyft Group from $34.00 to $42.00 and gave the company an outperform rating in a research report on Thursday, March 18th.

Shares of NASDAQ SHYF opened at $38.46 on Friday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -480.75, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60. The Shyft Group has a 12-month low of $14.70 and a 12-month high of $43.75. The company has a current ratio of 1.96, a quick ratio of 1.57 and a debt-to-equity ratio of 0.24. The stock’s 50 day simple moving average is $37.34 and its 200 day simple moving average is $31.77.

The Shyft Group (NASDAQ:SHYF) last posted its earnings results on Thursday, May 6th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The Shyft Group had a positive return on equity of 28.06% and a negative net margin of 0.39%. The firm had revenue of $197.89 million for the quarter, compared to analysts’ expectations of $192.66 million. The Shyft Group’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities analysts forecast that The Shyft Group will post 1.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 18th. Stockholders of record on Tuesday, May 18th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Monday, May 17th. The Shyft Group’s dividend payout ratio (DPR) is presently 8.06%.

In other news, insider Stephen K. Guillaume sold 3,659 shares of The Shyft Group stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $40.54, for a total transaction of $148,335.86. Following the transaction, the insider now directly owns 61,714 shares in the company, valued at approximately $2,501,885.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daryl M. Adams sold 15,000 shares of The Shyft Group stock in a transaction on Monday, March 15th. The shares were sold at an average price of $41.37, for a total value of $620,550.00. Following the transaction, the chief executive officer now owns 465,043 shares in the company, valued at $19,238,828.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,659 shares of company stock worth $1,338,436. 3.95% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SHYF. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of The Shyft Group in the 4th quarter worth $2,266,000. Calamos Advisors LLC grew its holdings in shares of The Shyft Group by 27.9% in the 4th quarter. Calamos Advisors LLC now owns 264,843 shares of the company’s stock worth $7,515,000 after acquiring an additional 57,765 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new position in shares of The Shyft Group in the 4th quarter worth $250,000. Arizona State Retirement System acquired a new position in shares of The Shyft Group in the 4th quarter worth $263,000. Finally, First Trust Advisors LP grew its holdings in shares of The Shyft Group by 20.5% in the 4th quarter. First Trust Advisors LP now owns 57,762 shares of the company’s stock worth $1,639,000 after acquiring an additional 9,834 shares during the last quarter. Institutional investors and hedge funds own 75.15% of the company’s stock.

The Shyft Group Company Profile

The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. The company's Fleet Vehicles and Services segment manufactures and sells commercial vehicles that are used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.

Further Reading: How is diluted EPS different from basic EPS?

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