REV Group (NYSE:REVG) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

REV Group (NYSE:REVG) released its earnings results on Wednesday. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10, MarketWatch Earnings reports. REV Group had a return on equity of 10.94% and a net margin of 0.76%. The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $627.17 million. During the same period in the prior year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. REV Group updated its FY 2023 guidance to EPS.

REV Group Price Performance

REVG stock opened at $13.99 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.50 and a current ratio of 1.73. REV Group has a 1 year low of $9.85 and a 1 year high of $16.38. The firm has a market cap of $832.34 million, a P/E ratio of 43.72 and a beta of 1.98. The stock has a 50-day simple moving average of $13.28 and a 200-day simple moving average of $12.19.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on REVG. BMO Capital Markets raised their price objective on REV Group from $14.00 to $15.00 in a report on Wednesday, June 14th. Credit Suisse Group raised their price objective on REV Group from $12.00 to $13.00 in a report on Wednesday. TheStreet upgraded REV Group from a “c” rating to a “b” rating in a report on Friday, June 16th. StockNews.com downgraded REV Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Robert W. Baird raised their price objective on REV Group from $16.00 to $20.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.75.

Institutional Investors Weigh In On REV Group

A number of large investors have recently modified their holdings of REVG. Tower Research Capital LLC TRC grew its stake in REV Group by 101.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,871 shares of the company’s stock valued at $25,000 after purchasing an additional 941 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in REV Group by 2.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 41,265 shares of the company’s stock valued at $455,000 after purchasing an additional 1,082 shares in the last quarter. Quarry LP grew its stake in REV Group by 69.6% during the 2nd quarter. Quarry LP now owns 2,692 shares of the company’s stock valued at $36,000 after purchasing an additional 1,105 shares in the last quarter. Renaissance Technologies LLC grew its stake in REV Group by 1.6% during the 4th quarter. Renaissance Technologies LLC now owns 77,500 shares of the company’s stock valued at $978,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Advisor Group Holdings Inc. grew its stake in REV Group by 63.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,100 shares of the company’s stock valued at $39,000 after purchasing an additional 1,208 shares in the last quarter. Institutional investors and hedge funds own 94.92% of the company’s stock.

About REV Group

REV Group, Inc designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Europe, 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, and Ladder Tower brands; and ambulances under the American Emergency Vehicles, Horton Emergency Vehicles, Leader Emergency Vehicles, Road Rescue, and Wheeled Coach brands.