Wells Fargo & Co cut shares of Rev Group (NYSE:REVG) from an outperform rating to a market perform rating in a research note released on Friday morning, Marketbeat.com reports. The brokerage currently has $26.00 price objective on the stock.
REVG has been the topic of several other research reports. Morgan Stanley initiated coverage on shares of Rev Group in a report on Friday, March 2nd. They set an equal weight rating and a $32.00 price objective on the stock. Stifel Nicolaus upped their price objective on shares of Rev Group from $33.00 to $36.00 and gave the company a buy rating in a report on Thursday, December 21st. Zacks Investment Research lowered shares of Rev Group from a hold rating to a sell rating in a report on Saturday, November 11th. Finally, SunTrust Banks initiated coverage on shares of Rev Group in a report on Friday, November 17th. They set a buy rating and a $33.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $31.75.
Shares of Rev Group (NYSE REVG) opened at $22.36 on Friday. The company has a current ratio of 2.19, a quick ratio of 0.75 and a debt-to-equity ratio of 0.64. The company has a market cap of $1,430.00 and a price-to-earnings ratio of 33.37. Rev Group has a 1 year low of $22.35 and a 1 year high of $33.15.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Monday, April 30th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, April 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.89%. Rev Group’s dividend payout ratio is currently 89.55%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aip LLC acquired a new position in shares of Rev Group during the fourth quarter valued at about $1,098,678,000. BlackRock Inc. raised its holdings in shares of Rev Group by 69.5% in the 4th quarter. BlackRock Inc. now owns 1,525,024 shares of the company’s stock worth $49,609,000 after acquiring an additional 625,448 shares during the last quarter. Bamco Inc. NY raised its holdings in shares of Rev Group by 19.0% in the 4th quarter. Bamco Inc. NY now owns 1,250,000 shares of the company’s stock worth $40,662,000 after acquiring an additional 200,000 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Rev Group by 74.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,242,955 shares of the company’s stock worth $40,434,000 after acquiring an additional 530,403 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Rev Group by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,204,841 shares of the company’s stock worth $33,350,000 after acquiring an additional 60,773 shares during the last quarter. Hedge funds and other institutional investors own 95.40% of the company’s stock.
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Rev Group Company Profile
REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).
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