Rev Group (NYSE:REVG) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Rev Group (NYSE:REVG) from a hold rating to a sell rating in a report published on Friday morning, Zacks.com reports.

According to Zacks, “REV Group, Inc. designs, manufactures and distributes specialty vehicles, and related aftermarket parts and services. Its operating segment includes Fire & Emergency, Commercial and Recreation. Fire & Emergency segment provides ambulances, fire apparatus, school buses, mobility vans and municipal transit buses. Commercial segment provides industrial and commercial services through terminal trucks, cut-away buses and street sweepers. Recreation segment provides consumer leisure through recreational vehicles and luxury buses. REV Group, Inc. is headquartered in Milwaukee, WI. “

REVG has been the topic of several other reports. Morgan Stanley cut their target price on shares of Rev Group from $11.00 to $10.00 and set an equal weight rating on the stock in a research note on Friday, September 6th. Robert W. Baird set a $12.00 target price on shares of Rev Group and gave the stock a buy rating in a research note on Friday, September 6th. BMO Capital Markets cut their target price on shares of Rev Group from $15.50 to $12.00 and set an outperform rating on the stock in a research note on Monday, September 9th. Wells Fargo & Co cut their target price on shares of Rev Group from $14.00 to $10.00 and set a market perform rating on the stock in a research note on Friday, September 6th. Finally, Goldman Sachs Group downgraded shares of Rev Group from a neutral rating to a sell rating and set a $12.00 target price on the stock. in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $11.00.

Shares of REVG opened at $10.65 on Friday. Rev Group has a fifty-two week low of $6.41 and a fifty-two week high of $16.31. The firm’s 50 day moving average price is $12.11 and its 200 day moving average price is $12.02. The company has a market cap of $646.34 million, a P/E ratio of 10.34, a PEG ratio of 1.67 and a beta of 2.98. The company has a quick ratio of 0.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.81.

Rev Group (NYSE:REVG) last announced its earnings results on Wednesday, September 4th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.23). Rev Group had a positive return on equity of 7.09% and a negative net margin of 1.05%. The business had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $632.44 million. During the same period in the previous year, the company earned $0.38 earnings per share. Rev Group’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts forecast that Rev Group will post 0.43 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, October 30th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, October 29th. Rev Group’s dividend payout ratio (DPR) is presently 19.42%.

In other news, CEO Timothy W. Sullivan purchased 50,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was bought at an average price of $9.58 per share, for a total transaction of $479,000.00. Following the acquisition, the chief executive officer now directly owns 1,853,160 shares of the company’s stock, valued at approximately $17,753,272.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.71% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Schneider Capital Management Corp acquired a new position in shares of Rev Group in the 1st quarter valued at $3,456,000. Van Berkom & Associates Inc. boosted its holdings in shares of Rev Group by 6.6% in the 2nd quarter. Van Berkom & Associates Inc. now owns 4,932,886 shares of the company’s stock valued at $71,083,000 after buying an additional 307,054 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Rev Group by 24.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 590,688 shares of the company’s stock valued at $8,512,000 after buying an additional 116,502 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Rev Group by 10.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,181,849 shares of the company’s stock valued at $8,876,000 after buying an additional 109,553 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Rev Group by 160.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 140,300 shares of the company’s stock valued at $2,022,000 after buying an additional 86,506 shares in the last quarter.

About Rev Group

REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, Latin America, the Caribbean, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment offers a range of fire apparatus and ambulance products for municipalities and private contractors.

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