REV Group (NYSE:REVG) Stock Price Up 5.7% After Dividend Announcement

REV Group, Inc. (NYSE:REVG)’s share price was up 5.7% on Thursday following a dividend announcement from the company. The company traded as high as $29.49 and last traded at $29.54. Approximately 143,560 shares traded hands during trading, a decline of 75% from the average daily volume of 564,650 shares. The stock had previously closed at $27.95.

The newly announced dividend which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.24 annualized dividend and a yield of 0.80%. REV Group’s dividend payout ratio (DPR) is presently 5.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on REVG. DA Davidson upped their price objective on REV Group from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Robert W. Baird lifted their price objective on shares of REV Group from $32.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group upped their target price on shares of REV Group from $25.00 to $28.50 and gave the company a “sell” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.75.

REV Group Price Performance

The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 6.68 and a beta of 1.60. The company has a fifty day simple moving average of $32.71 and a two-hundred day simple moving average of $30.45. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.43 and a current ratio of 1.72.

Insiders Place Their Bets

In related news, CAO Joseph Ladue sold 4,533 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $32.21, for a total value of $146,007.93. Following the transaction, the chief accounting officer now owns 20,442 shares in the company, valued at $658,436.82. The trade was a 18.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On REV Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. New Age Alpha Advisors LLC bought a new stake in shares of REV Group in the 4th quarter valued at $40,000. McIlrath & Eck LLC increased its stake in REV Group by 31.5% in the fourth quarter. McIlrath & Eck LLC now owns 1,435 shares of the company’s stock valued at $46,000 after purchasing an additional 344 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of REV Group by 27.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,158 shares of the company’s stock worth $61,000 after purchasing an additional 461 shares in the last quarter. Atria Investments Inc bought a new stake in REV Group in the 3rd quarter valued at about $201,000. Finally, Pictet Asset Management Holding SA acquired a new position in REV Group during the 4th quarter worth approximately $202,000.

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.