Deutsche Bank Reaffirms “Hold” Rating for Rev Group (REVG)
Deutsche Bank reaffirmed their hold rating on shares of Rev Group (NYSE:REVG) in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have a $16.00 price objective on the stock.
REVG has been the subject of several other reports. ValuEngine cut shares of Rev Group from a sell rating to a strong sell rating in a research report on Saturday, June 2nd. Credit Suisse Group decreased their price objective on shares of Rev Group from $32.00 to $20.00 and set an outperform rating for the company in a research report on Monday, June 11th. Zacks Investment Research cut shares of Rev Group from a hold rating to a sell rating in a research report on Wednesday, May 9th. Morgan Stanley decreased their price objective on shares of Rev Group from $30.00 to $20.00 and set a hold rating for the company in a research report on Friday, June 8th. Finally, Longbow Research assumed coverage on shares of Rev Group in a research report on Thursday, May 10th. They set a neutral rating for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $23.11.
Rev Group stock opened at $13.96 on Wednesday. The firm has a market cap of $873.35 million, a PE ratio of 14.85, a PEG ratio of 1.67 and a beta of 1.61. Rev Group has a 12-month low of $12.73 and a 12-month high of $33.15. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.26 and a quick ratio of 0.75.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, October 31st will be given a $0.05 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. Rev Group’s dividend payout ratio (DPR) is presently 21.28%.
In related news, Director John Canan purchased 5,040 shares of Rev Group stock in a transaction that occurred on Monday, June 25th. The stock was purchased at an average cost of $16.04 per share, with a total value of $80,841.60. Following the completion of the transaction, the director now directly owns 5,763 shares in the company, valued at $92,438.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders purchased 7,040 shares of company stock valued at $112,892. 4.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in REVG. Bank of Montreal Can lifted its position in Rev Group by 271.7% in the second quarter. Bank of Montreal Can now owns 11,947 shares of the company’s stock valued at $204,000 after acquiring an additional 8,733 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Rev Group by 31.8% in the first quarter. Envestnet Asset Management Inc. now owns 11,728 shares of the company’s stock valued at $243,000 after acquiring an additional 2,827 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in Rev Group by 79.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 14,695 shares of the company’s stock valued at $305,000 after acquiring an additional 6,507 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Rev Group by 161.0% in the second quarter. Tower Research Capital LLC TRC now owns 23,698 shares of the company’s stock valued at $403,000 after acquiring an additional 14,617 shares during the last quarter. Finally, American International Group Inc. lifted its position in Rev Group by 27.2% in the first quarter. American International Group Inc. now owns 19,490 shares of the company’s stock valued at $405,000 after acquiring an additional 4,172 shares during the last quarter.
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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