REV Group (NYSE:REVG) Reaches New 1-Year High - Here's What Happened

REV Group, Inc. (NYSE:REVG - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $46.10 and last traded at $46.00, with a volume of 919763 shares traded. The stock had previously closed at $44.82.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on REVG. DA Davidson upped their target price on REV Group from $39.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Wall Street Zen raised REV Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Morgan Stanley lowered REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 target price for the company. in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group increased their price objective on REV Group from $26.00 to $30.00 and gave the company a "sell" rating in a research note on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, REV Group has an average rating of "Hold" and a consensus target price of $38.00.

REV Group Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.72 and a quick ratio of 0.43. The stock has a market cap of $2.16 billion, a PE ratio of 9.84 and a beta of 1.12. The business has a 50 day moving average price of $36.05 and a two-hundred day moving average price of $33.48.

REV Group (NYSE:REVG - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.13. The company had revenue of $629.10 million during the quarter, compared to the consensus estimate of $603.51 million. REV Group had a return on equity of 17.74% and a net margin of 10.82%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. As a group, equities research analysts forecast that REV Group, Inc. will post 2.12 EPS for the current fiscal year.

REV Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.54%. REV Group's dividend payout ratio is presently 12.77%.

Insider Activity at REV Group

In other REV Group news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $43.83, for a total value of $4,058,701.83. Following the completion of the transaction, the chief executive officer now owns 516,446 shares in the company, valued at approximately $22,635,828.18. This represents a 15.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On REV Group

A number of institutional investors have recently added to or reduced their stakes in REVG. FMR LLC increased its holdings in shares of REV Group by 26.7% during the fourth quarter. FMR LLC now owns 7,819,739 shares of the company's stock valued at $249,215,000 after acquiring an additional 1,646,293 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of REV Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,238,928 shares of the company's stock valued at $166,965,000 after acquiring an additional 39,323 shares in the last quarter. Invesco Ltd. increased its holdings in shares of REV Group by 9.4% during the first quarter. Invesco Ltd. now owns 1,894,583 shares of the company's stock valued at $59,869,000 after acquiring an additional 163,026 shares in the last quarter. High Ground Investment Management LLP bought a new position in shares of REV Group during the first quarter valued at $59,288,000. Finally, Geode Capital Management LLC increased its holdings in shares of REV Group by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 1,384,108 shares of the company's stock valued at $44,121,000 after acquiring an additional 79,243 shares in the last quarter.

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.