Equities analysts expect The Shyft Group, Inc. (NASDAQ:SHYF) to post $180.90 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for The Shyft Group's earnings, with the highest sales estimate coming in at $192.00 million and the lowest estimate coming in at $169.80 million. The Shyft Group posted sales of $176.95 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The business is expected to report its next quarterly earnings results on Thursday, May 6th.
According to Zacks, analysts expect that The Shyft Group will report full-year sales of $877.10 million for the current year, with estimates ranging from $875.20 million to $879.00 million. For the next fiscal year, analysts forecast that the company will report sales of $992.75 million, with estimates ranging from $958.00 million to $1.03 billion. Zacks' sales calculations are an average based on a survey of sell-side research firms that that provide coverage for The Shyft Group.
The Shyft Group (NASDAQ:SHYF) last posted its quarterly earnings data on Thursday, March 11th. The company reported $0.27 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.19 by $0.08. The firm had revenue of $171.60 million during the quarter, compared to analysts' expectations of $170.49 million. The Shyft Group had a positive return on equity of 28.06% and a negative net margin of 0.39%. The company's revenue was down 4.7% compared to the same quarter last year.
A number of research firms have recently weighed in on SHYF. Zacks Investment Research raised The Shyft Group from a "hold" rating to a "buy" rating and set a $43.00 price objective for the company in a research report on Saturday, March 13th. Colliers Securities lifted their price target on The Shyft Group from $25.00 to $35.00 in a research report on Tuesday, January 5th. Finally, Raymond James lifted their price target on The Shyft Group from $34.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday, March 18th.
In other news, CEO Daryl M. Adams sold 15,000 shares of the business's stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $32.38, for a total value of $485,700.00. Following the completion of the transaction, the chief executive officer now owns 479,343 shares of the company's stock, valued at approximately $15,521,126.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen K. Guillaume sold 3,659 shares of the business's stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $40.54, for a total value of $148,335.86. Following the completion of the transaction, the insider now directly owns 61,714 shares of the company's stock, valued at approximately $2,501,885.56. The disclosure for this sale can be found here. In the last three months, insiders sold 48,659 shares of company stock valued at $1,699,786. Insiders own 3.95% of the company's stock.
Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. purchased a new position in shares of The Shyft Group in the 4th quarter valued at about $248,000. JPMorgan Chase & Co. increased its stake in shares of The Shyft Group by 63.2% in the 4th quarter. JPMorgan Chase & Co. now owns 38,545 shares of the company's stock valued at $1,094,000 after purchasing an additional 14,920 shares in the last quarter. Truist Financial Corp increased its stake in shares of The Shyft Group by 11.1% in the 4th quarter. Truist Financial Corp now owns 28,988 shares of the company's stock valued at $823,000 after purchasing an additional 2,896 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of The Shyft Group by 5,025.7% in the 4th quarter. Captrust Financial Advisors now owns 47,413 shares of the company's stock valued at $1,346,000 after purchasing an additional 46,488 shares in the last quarter. Finally, Centric Wealth Management purchased a new position in shares of The Shyft Group in the 4th quarter valued at about $1,391,000. 75.15% of the stock is owned by institutional investors and hedge funds.
The Shyft Group stock opened at $37.96 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.96 and a quick ratio of 1.57. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -474.50, a PEG ratio of 1.06 and a beta of 1.60. The Shyft Group has a 1-year low of $12.02 and a 1-year high of $43.75. The business has a fifty day moving average price of $35.90 and a 200-day moving average price of $28.34.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 25th. Shareholders of record on Thursday, February 25th were given a dividend of $0.025 per share. The ex-dividend date was Wednesday, February 24th. This represents a $0.10 dividend on an annualized basis and a yield of 0.26%. The Shyft Group's dividend payout ratio is currently 8.06%.
The Shyft Group Company Profile
The Shyft Group, Inc, through its subsidiary Spartan Motors USA, Inc, manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. It operates through two segments, Fleet Vehicles and Services (FVS), and Specialty Chassis and Vehicles (SCV).
Featured Story: What are gap-up stocks?
Get a free copy of the Zacks research report on The Shyft Group (SHYF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Beige Book7 Food Stocks That Are Leading Through Innovation
It might be easy to dismiss food stocks with so many restaurants still struggling to recover from the global pandemic. But food stocks are a broad category that includes not only the way food is consumed but the way it’s made. In 2020, sustainability and a focus on climate change continue to be important trends in this sector.
Another trend to look at is the ability of companies to deliver food to consumers. It’s not surprising that some of the biggest winners in the pandemic are the restaurants that already had a strong digital presence. Consumers' ability to have a contactless experience from start to finish has been a catalyst for some stocks.
Not surprisingly, those are also the trends that create an opportunity for investors looking to dabble in food stocks. As you look to resetting your portfolio for 2021, it may be time to take a bite out of some of these stocks.
With that in mind, we’ve put together this special presentation that identifies seven food stocks that you should consider adding to your portfolio. In addition to gaining exposure to this sector, some of these stocks present the opportunity for industry-beating gains.
View the "7 Food Stocks That Are Leading Through Innovation"