The Shyft Group’s (SHYF) Neutral Rating Reaffirmed at DA Davidson

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

The Shyft Group Stock Performance

Shares of SHYF stock opened at $12.54 on Tuesday. The firm has a market cap of $432.55 million, a price-to-earnings ratio of -104.50 and a beta of 1.63. The Shyft Group has a 52-week low of $9.81 and a 52-week high of $17.56. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $13.22 and its 200 day moving average is $12.87.

The Shyft Group Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SHYF. Federated Hermes Inc. increased its position in shares of The Shyft Group by 15.6% in the second quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock valued at $7,907,000 after buying an additional 89,951 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in The Shyft Group in the 3rd quarter worth $2,292,000. Jacobs Levy Equity Management Inc. raised its position in The Shyft Group by 16.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company’s stock worth $7,081,000 after acquiring an additional 78,550 shares during the period. Foundry Partners LLC lifted its holdings in The Shyft Group by 31.9% during the second quarter. Foundry Partners LLC now owns 319,640 shares of the company’s stock valued at $3,791,000 after purchasing an additional 77,225 shares in the last quarter. Finally, CWM LLC lifted its holdings in 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 purchasing an additional 3,420 shares in the last quarter. 85.84% of the stock is owned by institutional investors and hedge funds.

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.