DA Davidson reiterated their neutral rating on shares of The Shyft Group (NASDAQ:SHYF - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $15.00 target price on the stock, down from their prior target price of $18.00.
The Shyft Group Stock Down 10.6 %
Shares of SHYF traded down $1.48 during mid-day trading on Tuesday, hitting $12.54. 938,491 shares of the company's stock were exchanged, compared to its average volume of 297,313. The stock has a market cap of $432.55 million, a price-to-earnings ratio of -106.08 and a beta of 1.63. The firm has a fifty day moving average of $13.21 and a two-hundred day moving average of $12.88. 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 Shyft Group has a twelve month low of $9.81 and a twelve month high of $17.56.
The Shyft Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a dividend of $0.05 per share. The ex-dividend date 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 presently -166.67%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. CWM LLC grew 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 during the last quarter. SG Americas Securities LLC raised its holdings in The Shyft Group by 95.0% in the 2nd quarter. SG Americas Securities LLC now owns 17,948 shares of the company's stock worth $213,000 after acquiring an additional 8,742 shares during the period. Bank of New York Mellon Corp lifted its position in The Shyft Group by 5.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 320,479 shares of the company's stock worth $3,801,000 after acquiring an additional 16,953 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in The Shyft Group during the second quarter valued at about $790,000. Finally, nVerses Capital LLC acquired a new stake in shares of The Shyft Group in the second quarter valued at about $26,000. 85.84% of the stock is owned by institutional investors.
The Shyft Group Company Profile
(
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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.
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