REV Group, Inc. (NYSE:REVG) Sees Significant Drop in Short Interest

REV Group, Inc. (NYSE:REVG - Get Free Report) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 2,110,000 shares, a drop of 26.7% from the November 30th total of 2,880,000 shares. Based on an average daily trading volume, of 577,700 shares, the days-to-cover ratio is currently 3.7 days. Approximately 4.2% of the shares of the company are sold short.

Institutional Investors Weigh In On REV Group

A number of large investors have recently bought and sold shares of REVG. FMR LLC grew its holdings in shares of REV Group by 68.3% during the third quarter. FMR LLC now owns 6,173,446 shares of the company's stock valued at $173,227,000 after buying an additional 2,504,568 shares during the last quarter. Anthracite Investment Company Inc. purchased a new stake in REV Group in the third quarter worth $6,334,000. Principal Financial Group Inc. raised its stake in REV Group by 151.4% in the 3rd quarter. Principal Financial Group Inc. now owns 50,252 shares of the company's stock valued at $1,410,000 after acquiring an additional 30,262 shares during the period. American Century Companies Inc. increased its stake in shares of REV Group by 25.9% in the second quarter. American Century Companies Inc. now owns 95,661 shares of the company's stock worth $2,381,000 after purchasing an additional 19,674 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in REV Group by 10.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,977 shares of the company's stock valued at $336,000 after acquiring an additional 1,171 shares during the period.

Analyst Upgrades and Downgrades

REVG has been the topic of several research reports. StockNews.com downgraded shares of REV Group from a "buy" rating to a "hold" rating in a research note on Thursday, September 5th. Robert W. Baird increased their target price on shares of REV Group from $32.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. The Goldman Sachs Group lifted their price target on shares of REV Group from $25.00 to $28.50 and gave the company a "sell" rating in a research report on Thursday, December 12th. Finally, DA Davidson boosted 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $33.75.

REV Group Trading Down 1.6 %

NYSE REVG traded down $0.52 on Friday, hitting $31.33. The company's stock had a trading volume of 366,093 shares, compared to its average volume of 761,243. The firm has a market cap of $1.63 billion, a PE ratio of 6.98 and a beta of 1.61. REV Group has a 1-year low of $16.00 and a 1-year high of $35.96. The company's 50-day moving average is $30.21 and its 200 day moving average is $28.33. The company has a quick ratio of 0.57, a current ratio of 1.72 and a debt-to-equity ratio of 0.20.

REV Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 26th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $0.24 annualized dividend and a yield of 0.77%. This is a boost from REV Group's previous quarterly dividend of $0.05. REV Group's dividend payout ratio (DPR) is currently 5.35%.

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.