REV Group (NYSE:REVG) Lowered to “Underweight” Rating by Morgan Stanley

Morgan Stanley downgraded shares of REV Group (NYSE:REVG) from an equal weight rating to an underweight rating in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm currently has $33.00 price target on the stock.

REV Group Stock Performance

NYSE REVG opened at $29.97 on Wednesday. REV Group has a twelve month low of $20.51 and a twelve month high of $36.00. The company has a quick ratio of 0.43, a current ratio of 1.72 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.55 billion, a P/E ratio of 6.67 and a beta of 1.22. The company’s 50-day simple moving average is $31.31 and its 200 day simple moving average is $31.04.

REV Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.24 annualized dividend and a yield of 0.80%. REV Group’s dividend payout ratio is currently 13.48%.

Institutional Trading of REV Group

Several hedge funds have recently modified their holdings of the company. FMR LLC grew its position in REV Group by 26.7% during the 4th quarter. FMR LLC now owns 7,819,739 shares of the company’s stock worth $249,215,000 after acquiring an additional 1,646,293 shares during the last quarter. Vanguard Group Inc. lifted its position in REV Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,238,928 shares of the company’s stock worth $166,965,000 after buying an additional 39,323 shares in the last quarter. Invesco Ltd. grew its holdings in REV Group by 43.4% during the 4th quarter. Invesco Ltd. now owns 1,731,557 shares of the company’s stock worth $55,185,000 after acquiring an additional 524,369 shares during the last quarter. Geode Capital Management LLC increased its position in REV Group by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 1,384,108 shares of the company’s stock valued at $44,121,000 after acquiring an additional 79,243 shares in the last quarter. Finally, State Street Corp raised its stake in shares of REV Group by 3.3% in the third quarter. State Street Corp now owns 1,089,130 shares of the company’s stock worth $30,615,000 after acquiring an additional 35,066 shares during the last quarter.

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.