The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) - Equities research analysts at DA Davidson upped their FY2024 earnings estimates for shares of The Shyft Group in a research report issued to clients and investors on Monday, October 28th. DA Davidson analyst M. Shlisky now anticipates that the company will post earnings of $0.31 per share for the year, up from their prior forecast of $0.27. DA Davidson has a "Buy" rating and a $18.00 price target on the stock. The consensus estimate for The Shyft Group's current full-year earnings is $0.29 per share. DA Davidson also issued estimates for The Shyft Group's Q4 2024 earnings at $0.10 EPS and FY2025 earnings at $0.90 EPS.
The Shyft Group Stock Up 1.1 %
NASDAQ SHYF traded up $0.14 during mid-day trading on Wednesday, reaching $13.21. The stock had a trading volume of 161,774 shares, compared to its average volume of 306,509. The Shyft Group has a 1 year low of $9.81 and a 1 year high of $17.56. The stock has a market cap of $455.67 million, a PE ratio of -110.42 and a beta of 1.65. The company has a fifty day moving average price of $12.70 and a 200 day moving average price of $12.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16.
The Shyft Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Friday, August 16th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, August 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.51%. The Shyft Group's dividend payout ratio is presently -166.67%.
Institutional Investors Weigh In On The Shyft Group
A number of hedge funds have recently added to or reduced their stakes in SHYF. nVerses Capital LLC bought a new stake in shares of The Shyft Group during the 2nd quarter valued at $26,000. Motco bought a new position in shares of The Shyft Group during the 1st quarter valued at about $39,000. CWM LLC grew its position in shares of 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. Point72 Asset Management L.P. purchased a new position in shares of The Shyft Group during the second quarter valued at about $59,000. Finally, Point72 DIFC Ltd purchased a new position in shares of The Shyft Group during the second quarter valued at about $60,000. 85.84% of the stock is currently owned by hedge funds and other 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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