Institutional investor Schroder Investment Management Group has made a significant investment in REV Group, Inc., acquiring 30,295 shares valued at approximately $1.44 million during the second quarter of 2023. This move highlights growing interest in the specialty vehicle manufacturer, which operates in diverse sectors including fire and emergency services, commercial vehicles, and recreational products.
Several other large investors have also recently altered their positions in REV Group. AlphaQuest LLC increased its stake by an impressive 5,215.4%, gaining 1,382 shares worth $66,000 after purchasing an additional 1,356 shares. BI Asset Management Fondsmaeglerselskab A S acquired a new position valued at about $54,000 in the first quarter, while New Age Alpha Advisors LLC boosted its holdings by 71.0%, now owning 2,165 shares valued at $68,000.
Additionally, Financiere des Professionnels Fonds d’investissement inc. bought a new stake worth approximately $193,000, and Longboard Asset Management LP invested around $221,000 in the second quarter.
Analysts Adjust Ratings on REV Group
Market analysts have taken note of these developments, with various firms adjusting their ratings on REV Group shares. Robert W. Baird downgraded the stock from a “strong-buy” to a “hold” rating, while also reducing the price target from $64.00 to $55.00. DA Davidson similarly downgraded the stock from “buy” to “neutral,” lowering their price objective from $68.00 to $57.00.
Despite these downgrades, Zacks Research upgraded REV Group from “hold” to “strong-buy,” reflecting a diverse range of opinions among analysts. As it stands, one analyst rates the stock as a strong buy, one as a buy, four as hold, and one as sell. According to MarketBeat.com, the consensus rating is “hold” with an average price target of $49.25.
REV Group’s Market Performance
On the trading floor, shares of REV Group opened at $56.35 on Friday. The stock has seen considerable fluctuations, with a 52-week low of $26.51 and a high of $64.47. The company’s market capitalization stands at $2.75 billion, with a price-to-earnings (P/E) ratio of 26.58 and a beta of 1.13.
Financially, REV Group has shown promising results. In its latest earnings report, released on September 3, 2023, the company reported earnings per share (EPS) of $0.79, exceeding analysts’ expectations of $0.63 by $0.16. Revenue for the quarter reached $644.90 million, surpassing forecasts of $613.24 million. The firm experienced an 11.3% year-over-year increase in quarterly revenue, with a net margin of 4.51% and a return on equity of 27.25%. Analysts predict that REV Group will post an EPS of $2.12 for the current year.
REV Group, Inc. designs, manufactures, and distributes specialty vehicles and related aftermarket parts and services across the United States, Canada, and beyond. The company operates through three main segments: Fire & Emergency, Commercial, and Recreation. Its Fire & Emergency segment provides essential equipment and vehicles under several brand names, including Emergency One and Horton Emergency Vehicles.
For those interested in the latest developments regarding REV Group and its investors, further details can be found on HoldingsChannel.com, which offers up-to-date filings and insider trades related to the company.
