Short Interest in REV Group, Inc. (NYSE:REVG) Drops By 16.9%

REV Group, Inc. (NYSE:REVG) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 1,052,826 shares, a decrease of 16.9% from the December 15th total of 1,267,093 shares. Based on an average daily trading volume, of 484,496 shares, the short-interest ratio is presently 2.2 days. Currently, 2.2% of the shares of the company are sold short. Currently, 2.2% of the shares of the company are sold short. Based on an average daily trading volume, of 484,496 shares, the short-interest ratio is presently 2.2 days.

Analysts Set New Price Targets

REVG has been the topic of several recent analyst reports. Robert W. Baird reissued a “neutral” rating and set a $55.00 target price (down from $64.00) on shares of REV Group in a research note on Monday, December 1st. Zacks Research upgraded REV Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Morgan Stanley set a $55.00 price objective on REV Group in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of REV Group in a research note on Wednesday, December 24th. Finally, DA Davidson cut shares of REV Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $57.00 in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, one has assigned 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, the company currently has an average rating of “Hold” and a consensus price target of $49.25.

REV Group Stock Down 1.9%

NYSE REVG opened at $66.50 on Wednesday. The business has a fifty day moving average price of $59.19 and a 200 day moving average price of $55.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.49 and a current ratio of 1.51. The company has a market cap of $3.25 billion, a P/E ratio of 34.81 and a beta of 1.14. REV Group has a one year low of $26.51 and a one year high of $69.52.

REV Group (NYSE:REVG) last released its earnings results on Wednesday, December 10th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. The business had revenue of $664.40 million during the quarter, compared to analyst estimates of $646.77 million. REV Group had a net margin of 3.86% and a return on equity of 31.67%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Research analysts anticipate that REV Group will post 2.12 EPS for the current fiscal year.

REV Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, December 24th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. REV Group’s dividend payout ratio (DPR) is presently 12.57%.

Institutional Trading of REV Group

Several hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings in REV Group by 473.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,203,063 shares of the company’s stock valued at $68,178,000 after acquiring an additional 993,153 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of REV Group by 338.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 970,595 shares of the company’s stock valued at $46,191,000 after purchasing an additional 749,113 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of REV Group during the 3rd quarter worth $23,607,000. American Century Companies Inc. increased its position in shares of REV Group by 46.7% during the 2nd quarter. American Century Companies Inc. now owns 944,647 shares of the company’s stock worth $44,956,000 after purchasing an additional 300,793 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in REV Group by 111.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 539,133 shares of the company’s stock valued at $30,553,000 after buying an additional 283,706 shares during the period.

About REV Group

REV Group, Inc (NYSE: REVG) is a diversified manufacturer of specialty vehicles serving public safety, healthcare, transportation and recreation markets. The company designs, engineers and produces a broad range of products, including fire and emergency apparatus, transit and shuttle buses, work trucks, ambulances and recreational vehicles. Through its integrated platform, REV Group combines engineering expertise with customer-focused assembly to deliver purpose-built solutions that meet the exact specifications of fleet operators, municipalities and individual consumers.

The company’s product portfolio is organized into three primary segments.