REV Group, Inc. (NYSE:REVG – Get Free Report) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,000,000 shares, a growth of 73.9% from the March 31st total of 1,150,000 shares. Currently, 4.1% of the shares of the company are short sold. Based on an average daily volume of 1,010,000 shares, the short-interest ratio is currently 2.0 days.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System bought a new position in REV Group in the first quarter valued at approximately $63,000. Seven Grand Managers LLC bought a new position in REV Group in the first quarter valued at approximately $2,209,000. Allspring Global Investments Holdings LLC bought a new position in REV Group in the first quarter valued at approximately $5,764,000. Hennion & Walsh Asset Management Inc. bought a new position in REV Group in the first quarter valued at approximately $269,000. Finally, Toth Financial Advisory Corp bought a new position in REV Group in the first quarter valued at approximately $641,000.
REV Group Stock Down 1.1 %
REV Group stock opened at $21.00 on Monday. The stock has a market cap of $1.09 billion, a P/E ratio of 5.24 and a beta of 1.70. REV Group has a twelve month low of $9.85 and a twelve month high of $23.85. The company’s 50-day moving average price is $20.64 and its two-hundred day moving average price is $18.13.
REV Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.95%. REV Group’s dividend payout ratio is presently 4.94%.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. StockNews.com cut shares of REV Group from a “strong-buy” rating to a “buy” rating in a report on Thursday. The Goldman Sachs Group increased their price target on shares of REV Group from $18.00 to $20.00 and gave the company a “sell” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, REV Group currently has an average rating of “Moderate Buy” and a consensus price target of $17.60.
Get Our Latest Analysis on REV Group
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.
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