Rev Group Inc (REVG) Rating Increased to Buy at Zacks Investment Research
Rev Group Inc (NASDAQ:REVG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $29.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 7.73% from the company’s previous close.
According to Zacks, “REV Group, Inc. designs, manufactures and distributes specialty vehicles, and related aftermarket parts and services. Its operating segment includes Fire & Emergency, Commercial and Recreation. Fire & Emergency segment provides ambulances, fire apparatus, school buses, mobility vans and municipal transit buses. Commercial segment provides industrial and commercial services through terminal trucks, cut-away buses and street sweepers. Recreation segment provides consumer leisure through recreational vehicles and luxury buses. REV Group, Inc. is headquartered in Milwaukee, WI. “
Shares of Rev Group (NASDAQ:REVG) traded up 1.70% during mid-day trading on Thursday, hitting $26.92. The stock had a trading volume of 281,633 shares. The stock has a market cap of $1.72 billion and a P/E ratio of 83.60. The stock has a 50-day moving average price of $26.51 and a 200 day moving average price of $27.26. Rev Group has a 52 week low of $24.50 and a 52 week high of $29.17.
Rev Group (NASDAQ:REVG) last announced its earnings results on Thursday, September 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $595.60 million for the quarter, compared to the consensus estimate of $619.57 million. Rev Group had a net margin of 2.55% and a return on equity of 11.25%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts forecast that Rev Group will post $1.19 EPS for the current fiscal year.
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In other news, COO Thomas B. Phillips sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $26.73, for a total transaction of $267,300.00. Following the transaction, the chief operating officer now owns 10,000 shares in the company, valued at approximately $267,300. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several large investors have recently bought and sold shares of REVG. Nationwide Fund Advisors bought a new position in shares of Rev Group during the 1st quarter worth about $411,000. Strs Ohio bought a new position in shares of Rev Group during the 1st quarter worth about $102,000. Russell Investments Group Ltd. bought a new position in shares of Rev Group during the 1st quarter worth about $1,822,000. Wells Fargo & Company MN bought a new position in shares of Rev Group during the 1st quarter worth about $17,811,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Rev Group during the 1st quarter worth about $1,129,000.
About Rev Group
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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