Insider Selling: REV Group, Inc. (NYSE:REVG) CEO Sells 92,601 Shares of Stock

REV Group, Inc. (NYSE:REVG) CEO Jr. Mark A. Skonieczny sold 92,601 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $43.83, for a total value of $4,058,701.83. Following the completion of the transaction, the chief executive officer now directly owns 516,446 shares of the company’s stock, valued at approximately $22,635,828.18. This represents a 15.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

REV Group Stock Down 2.4%

NYSE REVG opened at $44.85 on Wednesday. REV Group, Inc. has a one year low of $21.54 and a one year high of $46.10. The company has a market cap of $2.19 billion, a P/E ratio of 9.99 and a beta of 1.12. The business has a fifty day moving average price of $35.10 and a 200 day moving average price of $33.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.43 and a current ratio of 1.72.

REV Group (NYSE:REVG) last issued its earnings results on Wednesday, June 4th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.13. REV Group had a return on equity of 17.74% and a net margin of 10.82%. The business had revenue of $629.10 million during the quarter, compared to the consensus estimate of $603.51 million. During the same period last year, the company earned $0.39 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Research analysts anticipate that REV Group, Inc. will post 2.12 EPS for the current fiscal year.

REV Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, June 27th. REV Group’s dividend payout ratio (DPR) is presently 12.77%.

Institutional Trading of REV Group

A number of hedge funds and other institutional investors have recently modified their holdings of REVG. Barclays PLC increased its stake in shares of REV Group by 355.5% in the 3rd quarter. Barclays PLC now owns 89,619 shares of the company’s stock worth $2,515,000 after acquiring an additional 69,946 shares during the last quarter. Legato Capital Management LLC increased its stake in shares of REV Group by 113.0% in the 4th quarter. Legato Capital Management LLC now owns 111,318 shares of the company’s stock worth $3,548,000 after acquiring an additional 59,066 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of REV Group in the 4th quarter worth $2,077,000. Rhumbline Advisers increased its stake in shares of REV Group by 1.4% in the 4th quarter. Rhumbline Advisers now owns 71,130 shares of the company’s stock worth $2,267,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of REV Group by 15.2% in the 4th quarter. Principal Financial Group Inc. now owns 57,906 shares of the company’s stock worth $1,845,000 after acquiring an additional 7,654 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen raised REV Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th. The Goldman Sachs Group increased their price objective on REV Group from $26.00 to $30.00 and gave the company a “sell” rating in a research note on Tuesday, May 27th. Morgan Stanley downgraded REV Group from an “equal weight” rating to an “underweight” rating and set a $33.00 price objective for the company. in a research note on Wednesday, April 16th. Finally, DA Davidson increased their price objective on REV Group from $39.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.00.

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.