Rev Group (REVG) Stock Price Down 6.2% Following Analyst Downgrade

Rev Group Inc (NYSE:REVG) shares fell 6.2% during trading on Tuesday after Wells Fargo & Co lowered their price target on the stock from $16.00 to $14.00. Wells Fargo & Co currently has a market perform rating on the stock. Rev Group traded as low as $11.50 and last traded at $11.62. 840,410 shares changed hands during mid-day trading, an increase of 38% from the average session volume of 608,845 shares. The stock had previously closed at $12.39.

Other research analysts also recently issued reports about the stock. Deutsche Bank reaffirmed a “hold” rating and issued a $16.00 target price on shares of Rev Group in a research note on Wednesday, September 5th. Stifel Nicolaus downgraded shares of Rev Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $18.00 to $17.00 in a research note on Monday, October 1st. Credit Suisse Group decreased their target price on shares of Rev Group from $20.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, September 7th. MED began coverage on shares of Rev Group in a research note on Wednesday, September 5th. They issued a “hold” rating and a $16.00 target price on the stock. Finally, Zacks Investment Research raised shares of Rev Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $21.33.

Institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Rev Group by 5.7% during the 2nd quarter. BlackRock Inc. now owns 1,915,314 shares of the company’s stock valued at $32,579,000 after purchasing an additional 102,740 shares during the period. Putnam Investments LLC purchased a new position in Rev Group during the 2nd quarter valued at $4,001,000. Baird Financial Group Inc. increased its position 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 valued at $22,793,000 after purchasing an additional 1,240,000 shares during the period. Bank of Montreal Can increased its position in Rev Group by 271.7% during the 2nd quarter. Bank of Montreal Can now owns 11,947 shares of the company’s stock valued at $204,000 after purchasing an additional 8,733 shares during the period. Finally, Van Berkom & Associates Inc. increased its position 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 valued at $65,766,000 after purchasing an additional 523,656 shares during the period.

The firm has a market cap of $770.97 million, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.35 and a beta of 2.48. The company has a current ratio of 2.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.78.

Rev Group (NYSE:REVG) last announced its earnings results on Wednesday, September 5th. The company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06). Rev Group had a net margin of 2.40% and a return on equity of 13.12%. The business had revenue of $597.70 million for the quarter, compared to the consensus estimate of $649.64 million. During the same quarter last year, the firm posted $0.33 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities analysts forecast that Rev Group Inc will post 1.21 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Wednesday, October 31st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, October 30th. Rev Group’s dividend payout ratio (DPR) is presently 21.28%.

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Rev Group Company Profile (NYSE:REVG)

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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