Rev Group Inc (NYSE:REVG) Sees Significant Drop in Short Interest

Rev Group Inc (NYSE:REVG) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 3,380,000 shares, a drop of 17.0% from the December 15th total of 4,070,000 shares. Currently, 13.3% of the shares of the company are short sold. Based on an average trading volume of 242,300 shares, the short-interest ratio is presently 13.9 days.

Several equities research analysts have issued reports on REVG shares. BMO Capital Markets downgraded shares of Rev Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $12.00 to $11.00 in a research report on Friday, September 27th. Zacks Investment Research downgraded shares of Rev Group from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. ValuEngine downgraded shares of Rev Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley downgraded shares of Rev Group from an “equal” rating to an “underweight” rating and set a $11.00 price target for the company. in a research report on Monday, December 16th. Finally, Deutsche Bank lifted their price target on shares of Rev Group from $9.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Rev Group has an average rating of “Hold” and an average price target of $11.38.

A number of institutional investors and hedge funds have recently made changes to their positions in REVG. First Trust Advisors LP raised its position in Rev Group by 64.9% during the first quarter. First Trust Advisors LP now owns 170,323 shares of the company’s stock valued at $1,865,000 after purchasing an additional 67,052 shares in the last quarter. Russell Investments Group Ltd. raised its position in Rev Group by 160.8% during the second quarter. Russell Investments Group Ltd. now owns 140,300 shares of the company’s stock valued at $2,022,000 after purchasing an additional 86,506 shares in the last quarter. Bank of Montreal Can raised its position in Rev Group by 59.4% during the second quarter. Bank of Montreal Can now owns 6,191 shares of the company’s stock valued at $89,000 after purchasing an additional 2,308 shares in the last quarter. Northern Trust Corp raised its position in Rev Group by 3.0% during the second quarter. Northern Trust Corp now owns 354,846 shares of the company’s stock valued at $5,113,000 after purchasing an additional 10,388 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Rev Group by 24.6% during the second quarter. Parametric Portfolio Associates LLC now owns 590,688 shares of the company’s stock valued at $8,512,000 after purchasing an additional 116,502 shares in the last quarter.

Shares of NYSE REVG traded down $0.16 during midday trading on Tuesday, reaching $10.57. The company’s stock had a trading volume of 475,428 shares, compared to its average volume of 177,170. Rev Group has a fifty-two week low of $7.76 and a fifty-two week high of $14.99. The business’s 50 day moving average price is $12.42 and its two-hundred day moving average price is $12.50. The company has a market cap of $674.92 million, a P/E ratio of 26.43, a P/E/G ratio of 1.83 and a beta of 2.91.

Rev Group (NYSE:REVG) last released its quarterly earnings results on Wednesday, December 18th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Rev Group had a negative net margin of 0.52% and a positive return on equity of 4.61%. The business had revenue of $652.60 million during the quarter, compared to analyst estimates of $631.23 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. Sell-side analysts anticipate that Rev Group will post 0.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.89%. Rev Group’s payout ratio is 50.00%.

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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