DA Davidson Increases Earnings Estimates for The Shyft Group

The Shyft Group, Inc. (NASDAQ:SHYF) – Stock analysts at DA Davidson boosted their FY2024 EPS estimates for shares of The Shyft Group in a report released on Monday, October 28th. DA Davidson analyst M. Shlisky now anticipates that the company will post earnings of $0.31 per share for the year, up from their previous estimate of $0.27. DA Davidson currently has a “Buy” rating and a $18.00 target price on the stock. The consensus estimate for The Shyft Group’s current full-year earnings is $0.29 per share. DA Davidson also issued estimates for The Shyft Group’s Q4 2024 earnings at $0.10 EPS and FY2025 earnings at $0.90 EPS.

The Shyft Group Price Performance

Shares of The Shyft Group stock opened at $13.21 on Wednesday. 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 firm’s 50-day simple moving average is $12.69 and its 200-day simple moving average is $12.46. The Shyft Group has a twelve month low of $9.81 and a twelve month high of $17.56. The firm has a market cap of $455.67 million, a P/E ratio of -110.08 and a beta of 1.65.

The Shyft Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Friday, August 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.51%. The ex-dividend date was Friday, August 16th. The Shyft Group’s dividend payout ratio is currently -166.67%.

Hedge Funds Weigh In On The Shyft Group

Institutional investors have recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new position in The Shyft Group during the 2nd quarter valued at about $542,000. Acadian Asset Management LLC lifted its holdings in The Shyft Group by 36.1% during the 1st quarter. Acadian Asset Management LLC now owns 322,654 shares of the company’s stock valued at $4,005,000 after purchasing an additional 85,594 shares during the last quarter. Pzena Investment Management LLC bought a new position in The Shyft Group during the 1st quarter valued at about $4,070,000. Federated Hermes Inc. lifted its holdings in The Shyft Group by 15.6% during the 2nd quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock valued at $7,907,000 after purchasing an additional 89,951 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in The Shyft Group by 40.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 437,653 shares of the company’s stock valued at $5,436,000 after purchasing an additional 126,832 shares during the last quarter. 85.84% of the stock is owned by institutional investors.

The Shyft Group Company Profile

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.