The Shyft Group (NASDAQ:SHYF) Receives “Neutral” Rating from DA Davidson

DA Davidson reaffirmed their neutral rating on shares of The Shyft Group (NASDAQ:SHYF) in a research report sent to investors on Tuesday morning,Benzinga reports. DA Davidson currently has a $15.00 price objective on the stock, down from their prior price objective of $18.00.

The Shyft Group Price Performance

Shares of The Shyft Group stock opened at $12.54 on Tuesday. The stock’s fifty day moving average is $13.22 and its 200 day moving average is $12.87. The Shyft Group has a one year low of $9.81 and a one year high of $17.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.82. The stock has a market cap of $432.55 million, a P/E ratio of -104.50 and a beta of 1.63.

The Shyft Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, November 15th. This represents a $0.20 annualized dividend and a yield of 1.59%. The Shyft Group’s payout ratio is -166.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SHYF. CWM LLC boosted its position in shares of The Shyft Group by 260.9% during the second quarter. CWM LLC now owns 4,731 shares of the company’s stock valued at $56,000 after buying an additional 3,420 shares during the period. SG Americas Securities LLC boosted its holdings in The Shyft Group by 95.0% during the 2nd quarter. SG Americas Securities LLC now owns 17,948 shares of the company’s stock valued at $213,000 after acquiring an additional 8,742 shares during the period. Bank of New York Mellon Corp grew its position in The Shyft Group by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 320,479 shares of the company’s stock valued at $3,801,000 after acquiring an additional 16,953 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in The Shyft Group in the second quarter worth $790,000. Finally, nVerses Capital LLC bought a new stake in shares of The Shyft Group during the second quarter worth $26,000. 85.84% of the stock is currently owned by institutional investors.

About The Shyft Group

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.