Raymond James Increases The Shyft Group (NASDAQ:SHYF) Price Target to $40.00

The Shyft Group (NASDAQ:SHYFGet Rating) had its target price increased by stock analysts at Raymond James from $28.00 to $40.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price target suggests a potential upside of 28.74% from the company’s current price.

Separately, BTIG Research started coverage on shares of The Shyft Group in a research note on Thursday. They issued a “buy” rating and a $40.00 price objective for the company.

The Shyft Group Stock Performance

NASDAQ:SHYF opened at $31.07 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.76 and a quick ratio of 1.16. The Shyft Group has a 12 month low of $17.66 and a 12 month high of $46.55. The firm has a market capitalization of $1.09 billion, a PE ratio of 28.50 and a beta of 1.75. The business’s fifty day moving average price is $25.70 and its 200 day moving average price is $23.85.

The Shyft Group (NASDAQ:SHYFGet Rating) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.13. The Shyft Group had a net margin of 3.91% and a return on equity of 15.42%. The company had revenue of $286.08 million during the quarter, compared to the consensus estimate of $279.70 million. On average, sell-side analysts anticipate that The Shyft Group will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at The Shyft Group

In related news, insider Stephen K. Guillaume sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $24.51, for a total value of $367,650.00. Following the completion of the sale, the insider now owns 63,014 shares in the company, valued at $1,544,473.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its stake in shares of The Shyft Group by 112,391.7% during the 2nd quarter. Federated Hermes Inc. now owns 337,475 shares of the company’s stock worth $6,274,000 after purchasing an additional 337,175 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of The Shyft Group by 16.3% during the 3rd quarter. Alliancebernstein L.P. now owns 1,705,927 shares of the company’s stock worth $34,852,000 after purchasing an additional 239,340 shares in the last quarter. Congress Asset Management Co. MA increased its stake in shares of The Shyft Group by 31.2% during the 3rd quarter. Congress Asset Management Co. MA now owns 889,785 shares of the company’s stock worth $18,178,000 after purchasing an additional 211,717 shares in the last quarter. Deutsche Bank AG increased its stake in shares of The Shyft Group by 575.6% during the 2nd quarter. Deutsche Bank AG now owns 243,762 shares of the company’s stock worth $4,532,000 after purchasing an additional 207,682 shares in the last quarter. Finally, Centaurus Financial Inc. grew its stake in The Shyft Group by 57.1% in the 2nd quarter. Centaurus Financial Inc. now owns 462,616 shares of the company’s stock worth $8,600,000 after acquiring an additional 168,075 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.

About The Shyft Group

(Get Rating)

The Shyft Group, Inc engages in vehicle manufacturing and assembly for the commercial and retail vehicle industries as well as for the emergency response and recreational vehicle markets. It operates through the Fleet Vehicles and Services, and Specialty Vehicles segments. The Fleet Vehicles and Services segment manufactures commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, mobile retail, and trades and construction industries.

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