REV Group (NYSE:REVG) Cut to “Neutral” at DA Davidson

DA Davidson downgraded shares of REV Group (NYSE:REVG) from a buy rating to a neutral rating in a research report released on Friday, MarketBeat reports. They currently have $57.00 target price on the stock, down from their previous target price of $68.00.

REVG has been the subject of several other research reports. Morgan Stanley set a $64.00 price objective on shares of REV Group in a research report on Tuesday, September 9th. Zacks Research raised shares of REV Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of REV Group in a report on Wednesday, October 8th. Finally, Robert W. Baird lifted their target price on shares of REV Group from $50.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.75.

REV Group Stock Performance

REVG stock opened at $51.23 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 0.53. The company has a 50 day moving average price of $57.58 and a 200 day moving average price of $48.28. REV Group has a fifty-two week low of $25.76 and a fifty-two week high of $64.47. The stock has a market capitalization of $2.50 billion, a PE ratio of 24.16 and a beta of 1.15.

REV Group (NYSE:REVG) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.16. REV Group had a net margin of 4.51% and a return on equity of 27.25%. The firm had revenue of $644.90 million during the quarter, compared to analysts’ expectations of $613.24 million. During the same quarter in the previous year, the company posted $0.48 EPS. REV Group’s revenue was up 11.3% on a year-over-year basis. REV Group has set its FY 2025 guidance at EPS. Analysts forecast that REV Group will post 2.12 EPS for the current year.

REV Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. REV Group’s payout ratio is 11.32%.

Hedge Funds Weigh In On REV Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. High Ground Investment Management LLP grew its holdings in shares of REV Group by 1.9% in the 2nd quarter. High Ground Investment Management LLP now owns 1,911,593 shares of the company’s stock valued at $90,973,000 after buying an additional 35,382 shares during the period. Invesco Ltd. grew its holdings in shares of REV Group by 9.4% in the 1st quarter. Invesco Ltd. now owns 1,894,583 shares of the company’s stock valued at $59,869,000 after buying an additional 163,026 shares during the period. State Street Corp grew its holdings in shares of REV Group by 11.2% in the 2nd quarter. State Street Corp now owns 1,345,451 shares of the company’s stock valued at $64,108,000 after buying an additional 135,875 shares during the period. Neuberger Berman Group LLC grew its holdings in shares of REV Group by 338.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 970,595 shares of the company’s stock valued at $46,191,000 after buying an additional 749,113 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of REV Group by 46.7% in the 2nd quarter. American Century Companies Inc. now owns 944,647 shares of the company’s stock valued at $44,956,000 after buying an additional 300,793 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.