REV Group (NYSE:REVG) Rating Increased to Equal Weight at Morgan Stanley

REV Group (NYSE:REVG) was upgraded by equities researchers at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $46.00 target price on the stock, up from their previous target price of $33.00. Morgan Stanley’s price target would indicate a potential upside of 3.83% from the company’s previous close.

A number of other research analysts have also issued reports on the company. The Goldman Sachs Group boosted their price objective on REV Group from $26.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, May 27th. DA Davidson boosted their price objective on REV Group from $39.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Finally, Wall Street Zen upgraded REV Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.25.

REV Group Price Performance

Shares of REVG opened at $44.30 on Wednesday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 23.57 and a beta of 1.12. The stock has a 50 day moving average of $37.12 and a 200-day moving average of $33.85. The company has a current ratio of 1.66, a quick ratio of 0.53 and a debt-to-equity ratio of 0.36. REV Group has a 52 week low of $21.54 and a 52 week high of $46.10.

REV Group (NYSE:REVG) last issued its earnings results on Wednesday, June 4th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.57 by $0.13. REV Group had a return on equity of 23.99% and a net margin of 4.16%. The company had revenue of $629.10 million during the quarter, compared to analyst estimates of $603.51 million. During the same quarter last year, the firm earned $0.39 EPS. The business’s revenue was up 2.0% on a year-over-year basis. As a group, analysts forecast that REV Group will post 2.12 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of REV Group stock in a transaction on Friday, June 6th. The stock was sold at an average price of $43.83, for a total transaction of $4,058,701.83. Following the transaction, the chief executive officer now owns 516,446 shares in the company, valued at approximately $22,635,828.18. The trade was a 15.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of REVG. KBC Group NV purchased a new position in REV Group in the first quarter valued at about $33,000. New Age Alpha Advisors LLC acquired a new stake in shares of REV Group in the fourth quarter worth about $40,000. McIlrath & Eck LLC lifted its position in shares of REV Group by 31.5% in the fourth quarter. McIlrath & Eck LLC now owns 1,435 shares of the company’s stock worth $46,000 after buying an additional 344 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of REV Group in the first quarter worth about $54,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of REV Group in the fourth quarter worth about $202,000.

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.