REV Group (NYSE:REVG) Hits New 1-Year High on Strong Earnings

REV Group, Inc. (NYSE:REVG)’s stock price hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $63.38 and last traded at $57.24, with a volume of 460504 shares. The stock had previously closed at $51.80.

The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.16. The company had revenue of $644.90 million for the quarter, compared to the consensus estimate of $613.24 million. REV Group had a return on equity of 23.99% and a net margin of 4.16%.The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. REV Group has set its FY 2025 guidance at EPS.

Wall Street Analyst Weigh In

Several brokerages recently commented on REVG. The Goldman Sachs Group boosted their price target on REV Group from $26.00 to $30.00 and gave the company a “sell” rating in a research note on Tuesday, May 27th. Morgan Stanley raised REV Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $33.00 to $46.00 in a research note on Wednesday, June 18th. Wall Street Zen raised REV Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th. Finally, DA Davidson upped their target price on REV Group from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $42.25.

Insider Buying and Selling at REV Group

In other news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 516,446 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On REV Group

Several hedge funds have recently modified their holdings of REVG. KBC Group NV bought a new stake in shares of REV Group in the first quarter valued at approximately $33,000. Canada Pension Plan Investment Board bought a new stake in shares of REV Group in the second quarter valued at approximately $38,000. McIlrath & Eck LLC boosted its position in shares of REV Group by 31.5% in the fourth quarter. McIlrath & Eck LLC now owns 1,435 shares of the company’s stock valued at $46,000 after acquiring an additional 344 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of REV Group in the first quarter valued at approximately $54,000. Finally, AlphaQuest LLC boosted its position in shares of REV Group by 5,215.4% in the second quarter. AlphaQuest LLC now owns 1,382 shares of the company’s stock valued at $66,000 after acquiring an additional 1,356 shares during the period.

REV Group Stock Up 12.8%

The company has a quick ratio of 0.53, a current ratio of 1.66 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $2.85 billion, a P/E ratio of 31.07 and a beta of 1.15. The firm has a 50-day moving average price of $50.04 and a two-hundred day moving average price of $40.05.

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.