REV Group (NYSE:REVG) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

REV Group (NYSE:REVG) released its earnings results on Wednesday. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05, FiscalAI reports. The business had revenue of $664.40 million for the quarter, compared to the consensus estimate of $646.77 million. REV Group had a return on equity of 27.25% and a net margin of 4.51%.

REV Group Stock Down 0.1%

Shares of NYSE:REVG opened at $55.74 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.72 billion, a P/E ratio of 26.29 and a beta of 1.13. REV Group has a 12 month low of $26.51 and a 12 month high of $64.47. The company’s 50-day moving average price is $54.71 and its two-hundred day moving average price is $51.73.

Institutional Trading of REV Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc raised its position in shares of REV Group by 798.5% during the third quarter. IFP Advisors Inc now owns 593 shares of the company’s stock worth $34,000 after acquiring an additional 527 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in REV Group in the second quarter worth about $38,000. Northwestern Mutual Wealth Management Co. bought a new stake in REV Group during the 3rd quarter worth about $113,000. Group One Trading LLC lifted its position in REV Group by 2,104.9% during the 3rd quarter. Group One Trading LLC now owns 2,249 shares of the company’s stock valued at $127,000 after purchasing an additional 2,147 shares during the period. Finally, Orion Porfolio Solutions LLC bought a new position in shares of REV Group in the 2nd quarter valued at about $212,000.

Analysts Set New Price Targets

REVG has been the subject of a number of research reports. DA Davidson downgraded REV Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $57.00 in a research report on Friday, October 31st. Morgan Stanley set a $55.00 price target on shares of REV Group in a report on Tuesday, November 4th. Zacks Research raised shares of REV Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Baird R W lowered shares of REV Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of REV Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.25.

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.