Equities Analysts Set Expectations for The Shyft Group, Inc.'s Q2 2024 Earnings (NASDAQ:SHYF)

The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) - Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of The Shyft Group in a note issued to investors on Tuesday, April 30th. DA Davidson analyst M. Shlisky forecasts that the company will earn $0.15 per share for the quarter. DA Davidson currently has a "Neutral" rating and a $12.00 price target on the stock. The consensus estimate for The Shyft Group's current full-year earnings is $0.28 per share. DA Davidson also issued estimates for The Shyft Group's FY2024 earnings at $0.33 EPS.

The Shyft Group Stock Up 15.4 %

SHYF traded up $1.65 during mid-day trading on Thursday, reaching $12.39. 379,943 shares of the stock were exchanged, compared to its average volume of 284,632. The Shyft Group has a 1 year low of $9.81 and a 1 year high of $27.36. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.12 and a current ratio of 1.77. The stock has a market capitalization of $425.84 million, a PE ratio of -1,239.00 and a beta of 1.69. The company has a 50 day moving average price of $11.20 and a two-hundred day moving average price of $11.43.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.03. The company had revenue of $202.33 million for the quarter, compared to analyst estimates of $205.40 million. The Shyft Group had a return on equity of 2.76% and a net margin of 0.01%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new stake in shares of The Shyft Group during the 3rd quarter worth approximately $1,819,000. Jacobs Levy Equity Management Inc. bought a new stake in The Shyft Group during the 3rd quarter valued at $4,292,000. Vanguard Group Inc. lifted its holdings in The Shyft Group by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,739,076 shares of the company's stock worth $26,034,000 after purchasing an additional 28,179 shares in the last quarter. Federated Hermes Inc. bought a new position in The Shyft Group in the 4th quarter worth about $1,236,000. Finally, Graham Capital Management L.P. bought a new position in shares of The Shyft Group in the third quarter valued at approximately $221,000. Hedge funds and other institutional investors own 85.84% of the company's stock.

Insider Activity at The Shyft Group

In other news, CEO John Albert Dunn acquired 4,545 shares of The Shyft Group stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $11.00 per share, with a total value of $49,995.00. Following the transaction, the chief executive officer now owns 35,894 shares of the company's stock, valued at approximately $394,834. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.54% of the stock is owned by insiders.

About The Shyft Group

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.