Perpetual Ltd Makes New Investment in REV Group, Inc. $REVG

Key Points

• Perpetual Ltd has acquired a new stake in REV Group, Inc., purchasing 6,782 shares valued at approximately $323,000 during the second quarter.
• REV Group reported earnings of $0.79 EPS for the last quarter, beating analysts' expectations and showing an 11.3% year-over-year revenue growth.
• The company has declared a quarterly dividend of $0.06 per share, which will be paid on October 10th, 2023, reflecting a 0.4% yield.

Perpetual Ltd bought a new stake in shares of REV Group, Inc. (NYSE:REVG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,782 shares of the company's stock, valued at approximately $323,000.

Several other hedge funds also recently modified their holdings of REVG. KBC Group NV purchased a new position in shares of REV Group during the first quarter valued at approximately $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of REV Group during the first quarter valued at approximately $54,000. New Age Alpha Advisors LLC boosted its position in shares of REV Group by 71.0% during the first quarter. New Age Alpha Advisors LLC now owns 2,165 shares of the company's stock valued at $68,000 after buying an additional 899 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new position in REV Group in the second quarter worth $193,000. Finally, Longboard Asset Management LP purchased a new position in REV Group in the second quarter worth $221,000.

Analyst Upgrades and Downgrades

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

REV Group Stock Performance

Shares of NYSE:REVG traded up $1.51 during midday trading on Monday, reaching $60.43. 676,056 shares of the company traded hands, compared to its average volume of 1,067,714. The company has a quick ratio of 0.53, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. REV Group, Inc. has a 12 month low of $25.76 and a 12 month high of $64.47. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 28.50 and a beta of 1.15. The firm's fifty day moving average price is $53.28 and its two-hundred day moving average price is $42.95.

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

REV Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, September 26th. REV Group's payout ratio is presently 11.32%.

About REV Group

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.