The Shyft Group (NASDAQ:SHYF – Get Rating) posted its quarterly earnings results on Thursday. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02, MarketWatch Earnings reports. The Shyft Group had a return on equity of 28.57% and a net margin of 6.95%. The business had revenue of $206.90 million for the quarter, compared to the consensus estimate of $189.92 million. During the same period in the prior year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. The Shyft Group updated its FY22 guidance to $0.75-1.41 EPS.
Shares of SHYF opened at $25.47 on Friday. The stock has a 50 day moving average price of $35.80 and a two-hundred day moving average price of $42.54. The firm has a market capitalization of $891.96 million, a P/E ratio of 17.33 and a beta of 1.58. The Shyft Group has a 52 week low of $25.23 and a 52 week high of $54.50.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 17th. Shareholders of record on Thursday, February 17th were issued a dividend of $0.05 per share. This is a positive change from The Shyft Group’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Wednesday, February 16th. The Shyft Group’s payout ratio is currently 13.61%.
Several hedge funds have recently added to or reduced their stakes in SHYF. NEXT Financial Group Inc bought a new position in shares of The Shyft Group in the fourth quarter valued at approximately $30,000. UBS Group AG grew its holdings in shares of The Shyft Group by 46.8% in the third quarter. UBS Group AG now owns 916 shares of the company’s stock valued at $35,000 after acquiring an additional 292 shares in the last quarter. Jane Street Group LLC bought a new position in shares of The Shyft Group in the third quarter valued at approximately $263,000. MML Investors Services LLC bought a new position in shares of The Shyft Group in the fourth quarter valued at approximately $268,000. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of The Shyft Group in the fourth quarter valued at approximately $343,000. 82.16% of the stock is owned by institutional investors.
SHYF has been the topic of a number of research reports. DA Davidson downgraded The Shyft Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 6th. Zacks Investment Research downgraded The Shyft Group from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Raymond James dropped their price target on The Shyft Group from $57.00 to $50.00 and set a “strong-buy” rating on the stock in a research note on Tuesday.
About The Shyft Group (Get Rating)
The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment manufactures and sells commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.
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