Roth Mkm Reaffirms "Buy" Rating for The Shyft Group (NASDAQ:SHYF)

Roth Mkm reissued their buy rating on shares of The Shyft Group (NASDAQ:SHYF - Free Report) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $16.00 price objective on the stock.

Separately, DA Davidson reiterated a "neutral" rating and issued a $15.00 target price (down previously from $18.00) on shares of The Shyft Group in a research note on Tuesday.

The Shyft Group Stock Performance

Shares of NASDAQ SHYF traded down $1.48 during trading on Tuesday, reaching $12.54. 939,491 shares of the stock traded hands, compared to its average volume of 297,317. 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 stock has a market capitalization of $432.55 million, a P/E ratio of -106.08 and a beta of 1.63. The Shyft Group has a 52-week low of $9.81 and a 52-week high of $17.56. The company has a 50-day moving average of $13.21 and a 200-day moving average of $12.88.

The Shyft Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid a $0.05 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.20 annualized dividend and a yield of 1.59%. The Shyft Group's dividend payout ratio is currently -166.67%.

Institutional Trading of The Shyft Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of The Shyft Group in the 2nd quarter valued at about $26,000. CWM LLC raised its stake in The Shyft Group by 260.9% in 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. bought a new stake in The Shyft Group during the second quarter valued at approximately $59,000. Point72 DIFC Ltd bought a new stake in The Shyft Group during the second quarter valued at approximately $60,000. Finally, National Bank of Canada FI grew its stake in The Shyft Group by 6,784.7% in the 2nd quarter. National Bank of Canada FI now owns 5,852 shares of the company's stock worth $65,000 after buying an additional 5,767 shares in the last quarter. Institutional investors own 85.84% of the company's stock.

The Shyft Group Company Profile

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.