Roth Mkm Reaffirms Buy Rating for The Shyft Group (NASDAQ:SHYF)

The Shyft Group (NASDAQ:SHYF)‘s stock had its “buy” rating restated by investment analysts at Roth Mkm in a research report issued on Tuesday,Benzinga reports. They currently have a $16.00 price target on the stock. Roth Mkm’s price target suggests a potential upside of 29.98% from the company’s previous close.

Separately, DA Davidson restated a “neutral” rating and set a $15.00 price target (down previously from $18.00) on shares of The Shyft Group in a research note on Tuesday.

The Shyft Group Stock Performance

Shares of The Shyft Group stock opened at $12.31 on Tuesday. The firm has a market cap of $424.62 million, a P/E ratio of -102.58 and a beta of 1.63. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. The Shyft Group has a 12 month low of $9.81 and a 12 month high of $17.56. The stock’s fifty day moving average price is $13.24 and its 200-day moving average price is $12.87.

Hedge Funds Weigh In On The Shyft Group

Several institutional investors have recently made changes to their positions in SHYF. Pzena Investment Management LLC boosted its position in The Shyft Group by 889.8% during the second quarter. Pzena Investment Management LLC now owns 3,243,834 shares of the company’s stock valued at $38,472,000 after purchasing an additional 2,916,101 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in The Shyft Group in the third quarter valued at about $2,292,000. Federated Hermes Inc. grew its stake in 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 purchasing an additional 89,951 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in The Shyft Group by 16.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company’s stock valued at $7,081,000 after purchasing an additional 78,550 shares during the last quarter. Finally, Foundry Partners LLC grew its stake in The Shyft Group by 31.9% in 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 during the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

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.