Algert Global LLC Increases Stock Position in REV Group, Inc. $REVG

Algert Global LLC grew its holdings in REV Group, Inc. (NYSE:REVG) by 1,919.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,736 shares of the company’s stock after purchasing an additional 235,466 shares during the quarter. Algert Global LLC owned approximately 0.51% of REV Group worth $14,039,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of REVG. Smartleaf Asset Management LLC grew its holdings in REV Group by 298.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 546 shares of the company’s stock valued at $31,000 after buying an additional 409 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of REV Group during the second quarter valued at $38,000. Covestor Ltd boosted its stake in shares of REV Group by 22,600.0% during the third quarter. Covestor Ltd now owns 681 shares of the company’s stock valued at $39,000 after acquiring an additional 678 shares during the last quarter. Farther Finance Advisors LLC increased its position in REV Group by 19.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,131 shares of the company’s stock worth $64,000 after purchasing an additional 181 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in REV Group during the 3rd quarter worth about $79,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research upgraded shares of REV Group from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Robert W. Baird reiterated a “neutral” rating and set a $55.00 price target (down from $64.00) on shares of REV Group in a report on Monday, December 1st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of REV Group in a research report on Wednesday, December 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.25.

REV Group Stock Performance

NYSE REVG opened at $63.90 on Friday. REV Group, Inc. has a 12 month low of $26.51 and a 12 month high of $69.92. The company has a 50-day moving average of $65.06 and a 200-day moving average of $59.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.49. The company has a market cap of $3.12 billion, a P/E ratio of 33.46 and a beta of 1.14.

REV Group (NYSE:REVG) last released its earnings results on Wednesday, December 10th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.05. REV Group had a net margin of 3.86% and a return on equity of 31.67%. The business had revenue of $664.40 million for the quarter, compared to analysts’ expectations of $646.77 million. During the same period last year, the company earned $0.51 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that REV Group, Inc. will post 2.12 earnings per share for the current year.

About REV Group

REV Group, Inc (NYSE: REVG) is a diversified manufacturer of specialty vehicles serving public safety, healthcare, transportation and recreation markets. The company designs, engineers and produces a broad range of products, including fire and emergency apparatus, transit and shuttle buses, work trucks, ambulances and recreational vehicles. Through its integrated platform, REV Group combines engineering expertise with customer-focused assembly to deliver purpose-built solutions that meet the exact specifications of fleet operators, municipalities and individual consumers.

The company’s product portfolio is organized into three primary segments.