The Shyft Group (NASDAQ:SHYF) Stock Rating Upgraded by DA Davidson

The Shyft Group (NASDAQ:SHYF) was upgraded by DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $15.00 price objective on the stock. DA Davidson’s price target suggests a potential upside of 21.65% from the stock’s current price.

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price objective on shares of The Shyft Group in a research note on Tuesday, December 17th.

The Shyft Group Price Performance

Shares of The Shyft Group stock opened at $12.33 on Wednesday. The business’s fifty day moving average price is $12.72 and its 200 day moving average price is $12.74. The Shyft Group has a twelve month low of $9.81 and a twelve month high of $17.56. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $425.26 million, a P/E ratio of -102.75 and a beta of 1.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SHYF. Rhumbline Advisers grew its stake in shares of The Shyft Group by 15.0% in the second quarter. Rhumbline Advisers now owns 53,987 shares of the company’s stock valued at $640,000 after buying an additional 7,050 shares in the last quarter. American Century Companies Inc. boosted its holdings in The Shyft Group by 28.6% in the 2nd quarter. American Century Companies Inc. now owns 40,001 shares of the company’s stock worth $474,000 after acquiring an additional 8,892 shares during the period. Federated Hermes Inc. grew its position in The Shyft Group by 15.6% in the second quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock valued at $7,907,000 after acquiring an additional 89,951 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of The Shyft Group by 1.4% during the second quarter. First Eagle Investment Management LLC now owns 480,116 shares of the company’s stock valued at $5,694,000 after purchasing an additional 6,500 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of The Shyft Group during the second quarter worth $523,000. Institutional investors and hedge funds own 85.84% of the company’s stock.

About The Shyft Group

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.