REV Group Inc (REVG) Short Interest Up 61.5% in March
REV Group Inc (NYSE:REVG) was the recipient of a significant increase in short interest in the month of March. As of March 29th, there was short interest totalling 3,041,758 shares, an increase of 61.5% from the March 15th total of 1,882,990 shares. Based on an average daily trading volume, of 993,201 shares, the days-to-cover ratio is currently 3.1 days. Approximately 10.5% of the shares of the company are short sold.
A number of analysts recently issued reports on the company. Credit Suisse Group reiterated an “outperform” rating and set a $32.00 price objective (down from $36.00) on shares of REV Group in a research note on Friday, March 9th. Zacks Investment Research upgraded REV Group from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, December 26th. Morgan Stanley assumed coverage on REV Group in a research note on Friday, March 2nd. They set an “equal weight” rating and a $32.00 price objective on the stock. Stifel Nicolaus set a $35.00 price objective on REV Group and gave the company a “buy” rating in a research note on Thursday, March 8th. Finally, Wells Fargo lowered REV Group from an “outperform” rating to a “market perform” rating and set a $26.00 price objective on the stock. in a research note on Friday, March 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $31.29.
REV Group stock opened at $20.20 on Tuesday. REV Group has a 52 week low of $19.53 and a 52 week high of $33.15. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.19 and a quick ratio of 0.75. The stock has a market cap of $1,277.93, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 0.78 and a beta of 1.73.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Monday, April 30th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, April 27th. REV Group’s payout ratio is 63.83%.
In other news, CEO Timothy W. Sullivan bought 100,000 shares of the stock in a transaction on Tuesday, March 13th. The shares were purchased at an average cost of $22.53 per share, for a total transaction of $2,253,000.00. Following the completion of the purchase, the chief executive officer now directly owns 108,620 shares in the company, valued at approximately $2,447,208.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. purchased a new position in REV Group during the third quarter worth about $128,000. Virtu Financial LLC purchased a new position in REV Group during the fourth quarter worth about $209,000. Gotham Asset Management LLC purchased a new position in REV Group during the fourth quarter worth about $318,000. Teacher Retirement System of Texas purchased a new position in REV Group during the fourth quarter worth about $321,000. Finally, Stone Ridge Asset Management LLC purchased a new position in REV Group during the fourth quarter worth about $362,000. Institutional investors and hedge funds own 95.40% of the company’s stock.
About REV Group
REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, 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 municipal fire departments, EMS providers, and private fleets through dealers.
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