Zacks Investment Research lowered shares of Rev Group Inc (NASDAQ:REVG) from a buy rating to a hold rating in a report published on Friday morning.
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. “
Shares of Rev Group (NASDAQ:REVG) traded down $0.08 on Friday, hitting $25.53. The stock had a trading volume of 100,571 shares, compared to its average volume of 697,789. Rev Group has a 12-month low of $23.55 and a 12-month high of $31.60.
Rev Group (NASDAQ:REVG) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $595.60 million for the quarter, compared to analysts’ expectations of $619.57 million. Rev Group had a return on equity of 11.25% and a net margin of 2.55%. Rev Group’s revenue was up 12.8% compared to the same quarter last year.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.com-unik.info/2017/11/06/rev-group-inc-revg-cut-to-hold-at-zacks-investment-research.html.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Monday, October 30th.
In other Rev Group news, Director Joel M. Rotroff sold 985 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $26.09, for a total transaction of $25,698.65. Following the transaction, the director now directly owns 3,205 shares in the company, valued at approximately $83,618.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas B. Phillips sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $26.73, for a total value of $267,300.00. Following the transaction, the chief operating officer now owns 10,000 shares in the company, valued at $267,300. The disclosure for this sale can be found here. Insiders have sold a total of 51,248 shares of company stock worth $1,343,460 over the last 90 days.
Several institutional investors and hedge funds have recently modified their holdings of REVG. JPMorgan Chase & Co. bought a new position in shares of Rev Group in the 1st quarter worth $225,000. Virtu KCG Holdings LLC bought a new position in shares of Rev Group in the 2nd quarter worth $249,000. Susquehanna International Group LLP bought a new position in shares of Rev Group in the 2nd quarter worth $268,000. The Manufacturers Life Insurance Company bought a new position in shares of Rev Group in the 2nd quarter worth $276,000. Finally, Rhumbline Advisers bought a new position in shares of Rev Group in the 2nd quarter worth $402,000.
About Rev Group
REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
What are top analysts saying about Rev Group Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Rev Group Inc and related companies.