REV Group (NYSE:REVG) Hits New 52-Week High After Earnings Beat

REV Group, Inc. (NYSE:REVG - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $44.63 and last traded at $42.71, with a volume of 572997 shares trading hands. The stock had previously closed at $37.22.

The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.13. REV Group had a net margin of 10.82% and a return on equity of 17.74%. The company had revenue of $629.10 million for the quarter, compared to the consensus estimate of $603.51 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year.

REV Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, June 27th. REV Group's dividend payout ratio is currently 13.48%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of REV Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. DA Davidson raised their target price on shares of REV Group from $39.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday. Morgan Stanley cut shares of REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 price objective on the stock. in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group raised their target price on shares of REV Group from $26.00 to $30.00 and gave the stock a "sell" rating in a report on Tuesday, May 27th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $38.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC raised its holdings in REV Group by 31.5% during the 4th quarter. McIlrath & Eck LLC now owns 1,435 shares of the company's stock worth $46,000 after purchasing an additional 344 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in REV Group by 1.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 31,303 shares of the company's stock worth $989,000 after purchasing an additional 414 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of REV Group by 8.6% in the 1st quarter. Hsbc Holdings PLC now owns 7,914 shares of the company's stock valued at $249,000 after acquiring an additional 629 shares during the last quarter. Bank of Montreal Can increased its stake in shares of REV Group by 9.1% in the 4th quarter. Bank of Montreal Can now owns 8,182 shares of the company's stock valued at $261,000 after acquiring an additional 682 shares during the last quarter. Finally, Vident Advisory LLC increased its stake in shares of REV Group by 5.2% in the 4th quarter. Vident Advisory LLC now owns 16,348 shares of the company's stock valued at $521,000 after acquiring an additional 805 shares during the last quarter.

REV Group Trading Down 0.4%

The company has a current ratio of 1.72, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.21 billion, a P/E ratio of 9.52 and a beta of 1.12. The business has a 50 day moving average price of $34.06 and a 200 day moving average price of $32.79.

REV Group Company 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.