SunTrust Banks, Inc. initiated coverage on shares of REV Group, Inc. (NYSE:REVG) in a research report report published on Friday. The brokerage issued a buy rating and a $33.00 price target on the stock.
Separately, Zacks Investment Research downgraded shares of REV Group from a hold rating to a sell rating in a research report on Saturday, November 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $32.10.
REV Group (NYSE:REVG) traded up $0.84 during trading hours on Friday, hitting $25.11. 314,607 shares of the stock traded hands, compared to its average volume of 321,584. The company has a quick ratio of 0.76, a current ratio of 2.04 and a debt-to-equity ratio of 0.55. REV Group has a one year low of $23.38 and a one year high of $31.60.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, October 31st will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Monday, October 30th. REV Group’s payout ratio is 187.50%.
In other REV Group news, Director Kim A. Marvin sold 40,263 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $26.09, for a total value of $1,050,461.67. Following the completion of the sale, the director now directly owns 150,671 shares of the company’s stock, valued at approximately $3,931,006.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joel M. Rotroff sold 985 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $26.09, for a total transaction of $25,698.65. Following the completion of the transaction, the director now owns 3,205 shares in the company, valued at $83,618.45. The disclosure for this sale can be found here. Insiders sold a total of 51,248 shares of company stock valued at $1,343,460 over the last ninety days.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in REVG. Vanguard Group Inc. purchased a new position in REV Group in the first quarter valued at about $31,542,000. Rice Hall James & Associates LLC purchased a new position in REV Group in the second quarter valued at about $18,470,000. Ameriprise Financial Inc. boosted its stake in REV Group by 65.5% in the third quarter. Ameriprise Financial Inc. now owns 818,807 shares of the company’s stock valued at $23,544,000 after acquiring an additional 323,958 shares during the last quarter. Bamco Inc. NY boosted its stake in REV Group by 40.0% in the third quarter. Bamco Inc. NY now owns 1,050,000 shares of the company’s stock valued at $30,198,000 after acquiring an additional 300,000 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in REV Group in the third quarter valued at about $5,432,000. Hedge funds and other institutional investors own 23.71% of the company’s stock.
REV Group Company Profile
REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).
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