REV Group (NYSE:REVG) Stock Price Down 6.5% - Here's What Happened

REV Group, Inc. (NYSE:REVG - Get Free Report) dropped 6.5% during mid-day trading on Wednesday . The stock traded as low as $28.75 and last traded at $29.74. Approximately 192,482 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 686,464 shares. The stock had previously closed at $31.81.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 price target on the stock. in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, REV Group presently has a consensus rating of "Hold" and a consensus price target of $34.63.

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 company has a market capitalization of $1.51 billion, a P/E ratio of 6.50 and a beta of 1.22. The business has a 50-day moving average of $31.10 and a 200-day moving average of $31.11.

REV Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, March 28th. This represents a $0.24 annualized dividend and a yield of 0.82%. REV Group's dividend payout ratio (DPR) is 13.48%.

Institutional Trading of REV Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in REVG. FMR LLC boosted its position in REV Group by 26.7% in the fourth quarter. FMR LLC now owns 7,819,739 shares of the company's stock valued at $249,215,000 after buying an additional 1,646,293 shares during the last quarter. Invesco Ltd. lifted its position in REV Group by 43.4% during the fourth quarter. Invesco Ltd. now owns 1,731,557 shares of the company's stock valued at $55,185,000 after purchasing an additional 524,369 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of REV Group in the 4th quarter valued at about $9,749,000. SG Capital Management LLC purchased a new stake in shares of REV Group in the fourth quarter worth about $8,203,000. Finally, Geode Capital Management LLC grew its holdings in REV Group by 15.4% during the third quarter. Geode Capital Management LLC now owns 1,304,865 shares of the company's stock worth $36,621,000 after acquiring an additional 173,759 shares during the period.

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.