Rev Group Inc (REVG) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Rev Group Inc (NASDAQ:REVG) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. Zacks Investment Research currently has $29.00 target price on the stock.
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. “
Shares of Rev Group (REVG) opened at 26.92 on Thursday. Rev Group has a 12 month low of $24.50 and a 12 month high of $29.17. The stock’s 50 day moving average price is $26.51 and its 200 day moving average price is $27.26. The stock has a market capitalization of $1.72 billion and a price-to-earnings ratio of 83.60.
Rev Group (NASDAQ:REVG) last announced its quarterly earnings results on Thursday, September 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $595.60 million for the quarter, compared to the consensus estimate of $619.57 million. Rev Group had a return on equity of 11.25% and a net margin of 2.55%. The firm’s revenue was up 12.8% on a year-over-year basis. Analysts expect that Rev Group will post $1.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Monday, October 30th.
In other news, COO Thomas B. Phillips sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $26.73, for a total transaction of $267,300.00. Following the transaction, the chief operating officer now directly owns 10,000 shares of the company’s stock, valued at $267,300. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Rev Group by 5.3% during the second quarter. Vanguard Group Inc. now owns 1,204,841 shares of the company’s stock valued at $33,350,000 after acquiring an additional 60,773 shares during the last quarter. Columbia Wanger Asset Management LLC purchased a new stake in Rev Group during the first quarter valued at $28,622,000. Park West Asset Management LLC purchased a new stake in Rev Group during the first quarter valued at $22,061,000. Wells Fargo & Company MN increased its position in Rev Group by 11.7% during the second quarter. Wells Fargo & Company MN now owns 721,306 shares of the company’s stock valued at $19,966,000 after acquiring an additional 75,278 shares during the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in Rev Group during the second quarter valued at $18,470,000.
About Rev Group
REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).
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