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REV Group (NYSE:REVG) Shares Gap Up on Earnings Beat

Defense World · Sep 9, 2022 05:02

REV Group, Inc. (NYSE:REVG – Get Rating) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $10.93, but opened at $11.62. REV Group shares last traded at $11.37, with a volume of 1,028 shares changing hands.

The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. REV Group had a net margin of 0.90% and a return on equity of 11.05%. The business had revenue of $594.80 million for the quarter, compared to analysts' expectations of $592.62 million. During the same period in the previous year, the business earned $0.36 earnings per share. The company's revenue was up .3% on a year-over-year basis.

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REV Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, September 29th. REV Group's dividend payout ratio (DPR) is presently 64.52%.

Analyst Ratings Changes

Several brokerages have commented on REVG. StockNews.com upgraded shares of REV Group from a "hold" rating to a "buy" rating in a research report on Thursday. The Goldman Sachs Group dropped their price target on shares of REV Group from $13.25 to $11.50 and set a "sell" rating on the stock in a research report on Thursday, June 9th. Credit Suisse Group set a $8.00 price target on REV Group in a research note on Tuesday, July 19th. DA Davidson assumed coverage on REV Group in a research note on Tuesday, June 28th. They issued a "neutral" rating and a $11.00 price target on the stock. Finally, BMO Capital Markets dropped their price target on REV Group from $15.00 to $13.00 in a research note on Thursday, June 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, REV Group currently has a consensus rating of "Hold" and an average price target of $11.25.

Hedge Funds Weigh In On REV Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pzena Investment Management LLC grew its stake in REV Group by 1.2% during the 2nd quarter. Pzena Investment Management LLC now owns 4,077,081 shares of the company's stock valued at $44,318,000 after acquiring an additional 48,489 shares in the last quarter. Vanguard Group Inc. grew its stake in REV Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 3,301,903 shares of the company's stock valued at $44,245,000 after acquiring an additional 9,814 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in REV Group by 3.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,289,417 shares of the company's stock valued at $46,546,000 after acquiring an additional 114,516 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of REV Group by 14.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,559,283 shares of the company's stock valued at $36,214,000 after buying an additional 326,183 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of REV Group by 9.1% in the 1st quarter. BlackRock Inc. now owns 2,222,050 shares of the company's stock valued at $29,776,000 after buying an additional 186,146 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company's stock.

REV Group Trading Up 2.6 %

The firm has a market cap of $715.21 million, a P/E ratio of 37.84 and a beta of 2.03. The company has a 50 day moving average of $11.39 and a 200 day moving average of $12.02. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.51 and a current ratio of 1.59.

REV Group Company Profile

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REV Group, Inc designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Canada, Europe, Africa, 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, and Ladder Tower brands; and ambulances under the American Emergency Vehicles, Horton Emergency Vehicles, Leader Emergency Vehicles, Road Rescue, and Wheeled Coach brands.