Q2 2024 Earnings Estimate for The Shyft Group, Inc. Issued By DA Davidson (NASDAQ:SHYF)

The Shyft Group, Inc. (NASDAQ:SHYF) – DA Davidson issued their Q2 2024 earnings estimates for shares of The Shyft Group in a report issued on Tuesday, April 30th. DA Davidson analyst M. Shlisky anticipates that the company will earn $0.15 per share for the quarter. DA Davidson has a “Neutral” rating and a $12.00 price objective on the stock. The consensus estimate for The Shyft Group’s current full-year earnings is $0.28 per share. DA Davidson also issued estimates for The Shyft Group’s FY2024 earnings at $0.33 EPS.

The Shyft Group (NASDAQ:SHYF) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03. The Shyft Group had a net margin of 0.01% and a return on equity of 2.76%. The business had revenue of $202.33 million for the quarter, compared to analysts’ expectations of $205.40 million.

The Shyft Group Stock Down 1.3 %

Shares of SHYF opened at $10.74 on Thursday. The business’s fifty day moving average price is $11.20 and its two-hundred day moving average price is $11.43. The Shyft Group has a 52 week low of $9.81 and a 52 week high of $27.36. The company has a current ratio of 1.77, a quick ratio of 1.12 and a debt-to-equity ratio of 0.26.

Hedge Funds Weigh In On The Shyft Group

Several large investors have recently bought and sold shares of the business. Peoples Bank KS acquired a new stake in The Shyft Group during the 3rd quarter worth $45,000. First Command Advisory Services Inc. acquired a new position in shares of The Shyft Group in the 3rd quarter valued at $81,000. Sequoia Financial Advisors LLC bought a new position in shares of The Shyft Group in the 4th quarter worth $124,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of The Shyft Group by 54.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,373 shares of the company’s stock worth $125,000 after purchasing an additional 2,945 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in The Shyft Group by 31.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,978 shares of the company’s stock valued at $134,000 after purchasing an additional 2,605 shares during the last quarter. 85.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO John Albert Dunn acquired 4,545 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $11.00 per share, for a total transaction of $49,995.00. Following the completion of the transaction, the chief executive officer now directly owns 35,894 shares in the company, valued at $394,834. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.54% of the stock is currently owned by insiders.

About The Shyft Group

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.