REV Group (NYSE:REVG) Stock Price Up 4.1% - Here's What Happened

REV Group, Inc. (NYSE:REVG - Get Free Report)'s share price shot up 4.1% during trading on Tuesday . The stock traded as high as $31.19 and last traded at $31.21. 310,037 shares traded hands during trading, a decline of 50% from the average session volume of 623,119 shares. The stock had previously closed at $29.97.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on REVG. The Goldman Sachs Group raised their price objective on REV Group from $25.00 to $28.50 and gave the stock a "sell" rating in a research note on Thursday, December 12th. Robert W. Baird raised their price objective on REV Group from $32.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. Finally, DA Davidson raised their price objective on REV Group from $33.00 to $39.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, REV Group has a consensus rating of "Hold" and a consensus price target of $33.75.

REV Group Price Performance

The company has a 50 day simple moving average of $32.34 and a 200-day simple moving average of $30.49. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 7.02 and a beta of 1.56. The company has a current ratio of 1.72, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20.

REV Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, March 28th. REV Group's dividend payout ratio is 13.48%.

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Insider Buying and Selling at REV Group

In related news, CAO Joseph Ladue sold 4,533 shares of REV Group stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $32.21, for a total value of $146,007.93. Following the sale, the chief accounting officer now owns 20,442 shares of the company's stock, valued at approximately $658,436.82. The trade was a 18.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On REV Group

A number of hedge funds and other institutional investors have recently bought and sold shares of REVG. New Age Alpha Advisors LLC bought a new position in REV Group during the fourth quarter worth about $40,000. McIlrath & Eck LLC grew its holdings in REV Group by 31.5% during the fourth quarter. McIlrath & Eck LLC now owns 1,435 shares of the company's stock worth $46,000 after purchasing an additional 344 shares during the period. Atria Investments Inc bought a new position in REV Group during the third quarter worth about $201,000. Pictet Asset Management Holding SA bought a new position in REV Group during the fourth quarter worth about $202,000. Finally, Cerity Partners LLC bought a new position in REV Group during the fourth quarter worth about $205,000.

REV Group Company Profile

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.