Rev Group (NYSE:REVG) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Rev Group (NYSE:REVG) from a hold rating to a strong sell rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “REV Group, Inc. designs, manufactures and distributes specialty vehicles, and related aftermarket parts and services. Its operating segment includes Fire & Emergency, Commercial and Recreation. Fire & Emergency segment provides ambulances, fire apparatus, school buses, mobility vans and municipal transit buses. Commercial segment provides industrial and commercial services through terminal trucks, cut-away buses and street sweepers. Recreation segment provides consumer leisure through recreational vehicles and luxury buses. REV Group, Inc. is headquartered in Milwaukee, WI. “

A number of other research firms have also issued reports on REVG. BMO Capital Markets raised their target price on shares of Rev Group to $15.50 and gave the company an outperform rating in a research note on Monday, June 17th. They noted that the move was a valuation call. ValuEngine upgraded shares of Rev Group from a sell rating to a hold rating in a research note on Friday, June 7th. Finally, Robert W. Baird set a $13.00 target price on shares of Rev Group and gave the company a buy rating in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Rev Group presently has a consensus rating of Hold and an average price target of $11.77.

NYSE:REVG traded down $0.16 during midday trading on Wednesday, reaching $12.26. The stock had a trading volume of 202,384 shares, compared to its average volume of 148,052. Rev Group has a 1-year low of $6.41 and a 1-year high of $17.77. The business has a fifty day moving average price of $13.90. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 0.82. The firm has a market capitalization of $813.66 million, a PE ratio of 11.90, a P/E/G ratio of 1.17 and a beta of 2.96.

Rev Group (NYSE:REVG) last posted its earnings results on Wednesday, June 5th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Rev Group had a negative net margin of 0.53% and a positive return on equity of 9.19%. The business had revenue of $615.00 million for the quarter, compared to analyst estimates of $626.34 million. During the same period last year, the business posted $0.24 EPS. Rev Group’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts expect that Rev Group will post 1.06 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, July 30th will be given a $0.05 dividend. The ex-dividend date is Monday, July 29th. This represents a $0.20 annualized dividend and a yield of 1.63%. Rev Group’s dividend payout ratio is 19.42%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. IndexIQ Advisors LLC grew its position in Rev Group by 45.9% in the 1st quarter. IndexIQ Advisors LLC now owns 147,721 shares of the company’s stock worth $1,618,000 after purchasing an additional 46,486 shares during the last quarter. Millennium Management LLC acquired a new stake in Rev Group in the 4th quarter worth $1,647,000. Metropolitan Life Insurance Co. NY grew its position in Rev Group by 269.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,683 shares of the company’s stock worth $80,000 after purchasing an additional 7,792 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Rev Group by 10.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,181,849 shares of the company’s stock worth $8,876,000 after purchasing an additional 109,553 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Rev Group by 11.0% in the 4th quarter. Geode Capital Management LLC now owns 311,942 shares of the company’s stock worth $2,342,000 after purchasing an additional 30,823 shares during the last quarter.

About Rev Group

REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, Latin America, the Caribbean, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment offers a range of fire apparatus and ambulance products for municipalities and private contractors.

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