Longboard Asset Management LP Invests $221,000 in REV Group, Inc. $REVG

Key Points

• Longboard Asset Management LP has acquired a new stake in REV Group, Inc. ($REVG), purchasing 4,649 shares valued at approximately $221,000 during the second quarter.
• REV Group reported a quarterly EPS of $0.79, exceeding estimates and marking an 11.3% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.06 per share, reflecting an annual yield of 0.4%.

Longboard Asset Management LP purchased a new position in REV Group, Inc. (NYSE:REVG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,649 shares of the company's stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently modified their holdings of REVG. KBC Group NV purchased a new stake in REV Group in the first quarter worth approximately $33,000. McIlrath & Eck LLC boosted its stake in shares of REV Group by 31.5% in the 4th quarter. McIlrath & Eck LLC now owns 1,435 shares of the company's stock valued at $46,000 after purchasing an additional 344 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of REV Group in the 1st quarter valued at $54,000. New Age Alpha Advisors LLC boosted its stake in shares of REV Group by 71.0% in the 1st quarter. New Age Alpha Advisors LLC now owns 2,165 shares of the company's stock valued at $68,000 after purchasing an additional 899 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of REV Group in the 2nd quarter valued at $193,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on REVG. Zacks Research cut shares of REV Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Morgan Stanley set a $64.00 target price on REV Group in a research note on Tuesday, September 9th. Wall Street Zen upgraded REV Group from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. The Goldman Sachs Group boosted their price target on REV Group from $26.00 to $30.00 and gave the stock a "sell" rating in a research report on Tuesday, May 27th. Finally, Robert W. Baird raised their price objective on shares of REV Group from $50.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $56.50.

REV Group Stock Performance

REV Group stock traded down $0.54 during midday trading on Friday, hitting $58.82. 1,672,351 shares of the company were exchanged, compared to its average volume of 1,034,421. REV Group, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $64.47. The firm has a market capitalization of $2.87 billion, a PE ratio of 27.75 and a beta of 1.15. The business has a fifty day simple moving average of $53.04 and a two-hundred day simple moving average of $42.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.53 and a current ratio of 1.63.

REV Group (NYSE:REVG - Get Free Report) last posted its earnings results on Wednesday, September 3rd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.16. The business had revenue of $644.90 million for the quarter, compared to analyst estimates of $613.24 million. REV Group had a net margin of 4.51% and a return on equity of 27.25%. The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. REV Group has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that REV Group, Inc. will post 2.12 earnings per share for the current year.

REV Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. REV Group's dividend payout ratio is 11.32%.

REV Group Profile

REV Group, Inc, together with its subsidiaries, designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Canada, 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, Spartan Fire Chassis, and Ladder Tower brand names; and ambulances under the American Emergency Vehicles, Horton Emergency Vehicles, Leader Emergency Vehicles, Road Rescue, and Wheeled Coach brand names.