Rev Group (REVG) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Rev Group (NYSE:REVG) from a strong sell rating to a hold rating in a report issued on Wednesday.
According to Zacks, “REV Group, Inc. designs, manufactures and distributes specialty vehicles, and related aftermarket parts and services. Its operating segment includes Fire & Emergency, Commercial and Recreation. Fire & Emergency segment provides ambulances, fire apparatus, school buses, mobility vans and municipal transit buses. Commercial segment provides industrial and commercial services through terminal trucks, cut-away buses and street sweepers. Recreation segment provides consumer leisure through recreational vehicles and luxury buses. REV Group, Inc. is headquartered in Milwaukee, WI. “
Several other research firms have also issued reports on REVG. Credit Suisse Group reduced their price target on Rev Group from $20.00 to $16.00 and set an outperform rating on the stock in a research report on Friday, September 7th. Stifel Nicolaus lowered Rev Group from a buy rating to a hold rating and reduced their price target for the stock from $18.00 to $17.00 in a research report on Monday, October 1st. Morgan Stanley set a $17.00 price target on Rev Group and gave the stock a hold rating in a research report on Friday, October 26th. Deutsche Bank restated a hold rating and issued a $16.00 price target on shares of Rev Group in a research report on Wednesday, September 5th. Finally, MED initiated coverage on Rev Group in a research report on Wednesday, September 5th. They issued a hold rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Rev Group has a consensus rating of Hold and an average target price of $22.67.
Rev Group (NYSE:REVG) last posted its quarterly earnings results on Wednesday, September 5th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.06). Rev Group had a return on equity of 13.12% and a net margin of 2.40%. The company had revenue of $597.70 million during the quarter, compared to the consensus estimate of $649.64 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts expect that Rev Group will post 1.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.75%. The ex-dividend date is Tuesday, October 30th. Rev Group’s payout ratio is presently 21.28%.
A number of institutional investors have recently modified their holdings of REVG. Baird Financial Group Inc. raised its stake in Rev Group by 1,240.0% during the 2nd quarter. Baird Financial Group Inc. now owns 1,340,000 shares of the company’s stock worth $22,793,000 after buying an additional 1,240,000 shares during the period. American Century Companies Inc. acquired a new stake in Rev Group during the 2nd quarter worth $16,537,000. Pzena Investment Management LLC acquired a new stake in Rev Group during the 3rd quarter worth $10,439,000. Van Berkom & Associates Inc. raised its stake in Rev Group by 15.7% during the 2nd quarter. Van Berkom & Associates Inc. now owns 3,866,342 shares of the company’s stock worth $65,766,000 after buying an additional 523,656 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Rev Group by 450.6% during the 3rd quarter. Alliancebernstein L.P. now owns 637,249 shares of the company’s stock worth $10,005,000 after buying an additional 521,519 shares during the period.
About Rev Group
REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, 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 municipal fire departments, EMS providers, and private fleets through dealers.
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