Rev Group (NYSE:REVG) Downgraded to “Sell” at Zacks Investment Research
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 research analysts also recently weighed in on REVG. Wells Fargo & Co reduced their target price on Rev Group from $14.00 to $10.00 and set a market perform rating on the stock in a report on Friday, September 6th. Robert W. Baird set a $12.00 target price on Rev Group and gave the stock a buy rating in a report on Friday, September 6th. BMO Capital Markets reduced their target price on Rev Group from $15.50 to $12.00 and set an outperform rating on the stock in a report on Monday, September 9th. Goldman Sachs Group downgraded Rev Group from a neutral rating to a sell rating and set a $12.00 target price on the stock. in a report on Wednesday, August 7th. Finally, Morgan Stanley reduced their target price on Rev Group from $11.00 to $10.00 and set an equal weight rating on the stock in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $11.00.
Rev Group (NYSE:REVG) last posted its earnings results on Wednesday, September 4th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.23). Rev Group had a positive return on equity of 7.09% and a negative net margin of 1.05%. The firm had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $632.44 million. During the same quarter last year, the company posted $0.38 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. Sell-side analysts forecast that Rev Group will post 0.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Wednesday, October 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.20 annualized dividend and a dividend yield of 1.86%. Rev Group’s payout ratio is currently 19.42%.
In related news, CEO Timothy W. Sullivan purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $9.58 per share, for a total transaction of $479,000.00. Following the purchase, the chief executive officer now directly owns 1,853,160 shares of the company’s stock, valued at approximately $17,753,272.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.71% of the company’s stock.
Several institutional investors have recently bought and sold shares of REVG. Dimensional Fund Advisors LP grew its stake in shares of Rev Group by 10.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,181,849 shares of the company’s stock worth $8,876,000 after buying an additional 109,553 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Rev Group by 238.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,727 shares of the company’s stock worth $74,000 after buying an additional 4,740 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Rev Group by 211.1% in the 1st quarter. Bank of Montreal Can now owns 3,883 shares of the company’s stock worth $43,000 after buying an additional 2,635 shares during the last quarter. IndexIQ Advisors LLC grew its stake in shares of Rev Group by 45.9% in the 1st quarter. IndexIQ Advisors LLC now owns 147,721 shares of the company’s stock worth $1,618,000 after buying an additional 46,486 shares during the last quarter. Finally, CIBC World Markets Inc. grew its stake in shares of Rev Group by 1.3% in the 1st quarter. CIBC World Markets Inc. now owns 138,421 shares of the company’s stock worth $1,516,000 after buying an additional 1,719 shares during the last quarter.
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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