REV Group (NYSE:REVG) Rating Increased to Equal Weight at Morgan Stanley

REV Group (NYSE:REVG) was upgraded by equities researchers at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Wednesday,Finviz reports. The brokerage presently has a $46.00 price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 5.63% from the stock’s current price.

A number of other analysts have also recently issued reports on REVG. The Goldman Sachs Group upped their target price on REV Group from $26.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, May 27th. DA Davidson upped their target price on REV Group from $39.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Finally, Wall Street Zen raised REV Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.25.

REV Group Trading Down 1.7%

NYSE:REVG opened at $43.55 on Wednesday. The stock has a 50-day simple moving average of $36.60 and a 200-day simple moving average of $33.68. The stock has a market cap of $2.13 billion, a P/E ratio of 23.17 and a beta of 1.12. REV Group has a 1 year low of $21.54 and a 1 year high of $46.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.53 and a current ratio of 1.66.

REV Group (NYSE:REVG) last announced its earnings results on Wednesday, June 4th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.13. The firm had revenue of $629.10 million during the quarter, compared to analysts’ expectations of $603.51 million. REV Group had a return on equity of 23.99% and a net margin of 4.16%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. As a group, analysts anticipate that REV Group will post 2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other REV Group 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 transaction of $4,058,701.83. Following the completion of the sale, the chief executive officer now directly owns 516,446 shares of the company’s stock, valued at approximately $22,635,828.18. This trade represents a 15.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Institutional Trading of REV Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new position in shares of REV Group during the 4th quarter worth approximately $513,000. Asset Management One Co. Ltd. purchased a new position in shares of REV Group during the 4th quarter worth approximately $2,077,000. Aquatic Capital Management LLC purchased a new position in shares of REV Group during the 4th quarter worth approximately $474,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of REV Group during the 4th quarter worth approximately $526,000. Finally, Ieq Capital LLC purchased a new position in shares of REV Group during the 4th quarter worth approximately $614,000.

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.