Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP raised its stake in Rev Group by 181.3% during the third quarter. First Trust Advisors LP now owns 132,080 shares of the company’s stock worth $2,074,000 after acquiring an additional 85,134 shares during the period. Russell Investments Group Ltd. acquired a new stake in Rev Group during the third quarter worth about $2,629,000. Victory Capital Management Inc. acquired a new stake in Rev Group during the third quarter worth about $267,000. SG Americas Securities LLC acquired a new stake in shares of Rev Group in the third quarter valued at approximately $726,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Rev Group by 898.2% in the third quarter. JPMorgan Chase & Co. now owns 60,753 shares of the company’s stock valued at $953,000 after purchasing an additional 54,667 shares during the period.
Royce & Associates LP cut its stake in Rev Group Inc (NYSE:REVG) by 37.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 249,169 shares of the company’s stock after selling 147,920 shares during the period. Royce & Associates LP owned 0.40% of Rev Group worth $1,871,000 as of its most recent filing with the Securities and Exchange Commission.
NYSE REVG opened at $10.74 on Thursday. The company has a current ratio of 2.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $662.57 million, a price-to-earnings ratio of 10.43, a P/E/G ratio of 1.46 and a beta of 2.77. Rev Group Inc has a 52-week low of $6.41 and a 52-week high of $23.12.
Rev Group (NYSE:REVG) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.07). The company had revenue of $518.70 million during the quarter, compared to analyst estimates of $510.80 million. Rev Group had a return on equity of 11.18% and a net margin of 0.55%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. Research analysts forecast that Rev Group Inc will post 1.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.20 annualized dividend and a yield of 1.86%. Rev Group’s dividend payout ratio is 19.42%.
A number of research analysts recently commented on REVG shares. Credit Suisse Group lowered shares of Rev Group from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $8.00 in a research note on Tuesday, January 22nd. Morgan Stanley set a $11.00 price objective on shares of Rev Group and gave the stock a “hold” rating in a research note on Sunday, December 30th. Wells Fargo & Co cut their target price on shares of Rev Group from $14.00 to $8.00 and set a “market perform” rating for the company in a research report on Friday, December 21st. Zacks Investment Research downgraded shares of Rev Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 26th. Finally, SunTrust Banks set a $8.00 price target on shares of Rev Group and gave the company a “hold revg” rating in a report on Monday, December 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $11.11.
About Rev Group
REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, Latin America, the Caribbean, 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 municipalities and private contractors.
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