Victory Capital Management Inc. Buys New Stake in REV Group, Inc. (NYSE:REVG)

Victory Capital Management Inc. purchased a new stake in shares of REV Group, Inc. (NYSE:REVG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 28,512 shares of the company’s stock, valued at approximately $710,000. Victory Capital Management Inc. owned approximately 0.05% of REV Group as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of REV Group by 56.3% during the 1st quarter. Vanguard Group Inc. now owns 4,714,060 shares of the company’s stock valued at $104,134,000 after buying an additional 1,698,502 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in shares of REV Group by 161.8% in the 1st quarter. Kennedy Capital Management LLC now owns 947,919 shares of the company’s stock valued at $20,940,000 after purchasing an additional 585,841 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of REV Group in the 2nd quarter worth approximately $9,535,000. Hood River Capital Management LLC bought a new position in shares of REV Group during the 1st quarter valued at approximately $8,240,000. Finally, Bessemer Group Inc. purchased a new stake in REV Group during the 1st quarter valued at $6,293,000.

REV Group Trading Down 1.0 %

NYSE REVG opened at $27.61 on Friday. The stock has a market cap of $1.44 billion, a PE ratio of 6.75 and a beta of 1.59. REV Group, Inc. has a 12 month low of $14.04 and a 12 month high of $31.85. The company’s 50-day moving average price is $27.98 and its 200-day moving average price is $25.16. The company has a current ratio of 1.85, a quick ratio of 0.57 and a debt-to-equity ratio of 0.54.

REV Group (NYSE:REVG) last issued its earnings results on Wednesday, September 4th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The business had revenue of $579.40 million for the quarter, compared to analyst estimates of $618.70 million. REV Group had a net margin of 9.92% and a return on equity of 18.69%. The company’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. Equities research analysts forecast that REV Group, Inc. will post 1.42 earnings per share for the current year.

REV Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, September 27th. REV Group’s dividend payout ratio (DPR) is presently 4.89%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of REV Group from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Thursday, September 5th. Morgan Stanley initiated coverage on shares of REV Group in a research report on Tuesday, June 11th. They issued an “equal weight” rating and a $29.50 price objective on the stock. StockNews.com downgraded shares of REV Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, DA Davidson reaffirmed a “buy” rating and set a $33.00 target price on shares of REV Group in a research note on Thursday, September 5th.

REV Group Profile

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.