REV Group (NYSE:REVG) Trading Up 5.7% Following Dividend Announcement

REV Group, Inc. (NYSE:REVG) shares rose 5.7% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $29.49 and last traded at $29.54. Approximately 143,560 shares changed hands during mid-day 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. Stockholders of record on Friday, March 28th will be paid a $0.06 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. REV Group’s payout ratio is 5.35%.

Analyst Upgrades and Downgrades

REVG has been the subject of several recent research reports. DA Davidson increased their price target on REV Group from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Robert W. Baird increased their price target on REV Group from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group increased their price target on REV Group from $25.00 to $28.50 and gave the company a “sell” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, REV Group has an average rating of “Hold” and an average target price of $33.75.

REV Group Stock Up 3.7 %

The firm has a 50 day moving average of $32.67 and a 200 day moving average of $30.45. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 6.93 and a beta of 1.60. The company has a quick ratio of 0.43, a current ratio of 1.72 and a debt-to-equity ratio of 0.20.

Insider Buying and Selling

In other REV Group news, CAO Joseph Ladue sold 4,533 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $32.21, for a total value of $146,007.93. Following the completion of the sale, the chief accounting officer now owns 20,442 shares of the company’s stock, valued at approximately $658,436.82. This trade represents a 18.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On REV Group

A number of hedge funds have recently added to or reduced their stakes in REVG. New Age Alpha Advisors LLC acquired a new stake in REV Group in the fourth quarter valued at approximately $40,000. McIlrath & Eck LLC grew 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 acquiring an additional 344 shares during the period. Farther Finance Advisors LLC grew its stake in REV Group by 27.2% in the third quarter. Farther Finance Advisors LLC now owns 2,158 shares of the company’s stock valued at $61,000 after acquiring an additional 461 shares during the period. Atria Investments Inc acquired a new stake in REV Group in the third quarter valued at approximately $201,000. Finally, Pictet Asset Management Holding SA acquired a new stake in REV Group in the fourth quarter valued at approximately $202,000.

About REV Group

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.