The Shyft Group, Inc. (NASDAQ:SHYF – Get Free Report)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $16.64 and last traded at $16.52, with a volume of 93788 shares traded. The stock had previously closed at $16.30.
Wall Street Analysts Forecast Growth
Separately, DA Davidson raised The Shyft Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $18.00 in a research report on Monday.
Check Out Our Latest Report on SHYF
The Shyft Group Price Performance
The Shyft Group (NASDAQ:SHYF – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $192.80 million during the quarter, compared to the consensus estimate of $201.49 million. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The firm’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 earnings per share. On average, sell-side analysts predict that The Shyft Group, Inc. will post 0.26 earnings per share for the current year.
The Shyft Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 17th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, May 16th. The Shyft Group’s dividend payout ratio (DPR) is -2,000.00%.
Hedge Funds Weigh In On The Shyft Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHYF. Vanguard Group Inc. boosted its holdings in The Shyft Group by 1.6% in the third quarter. Vanguard Group Inc. now owns 1,739,076 shares of the company’s stock valued at $26,034,000 after purchasing an additional 28,179 shares in the last quarter. SG Americas Securities LLC purchased a new stake in The Shyft Group in the fourth quarter valued at approximately $219,000. Raymond James Financial Services Advisors Inc. purchased a new stake in The Shyft Group in the fourth quarter valued at approximately $142,000. Olstein Capital Management L.P. lifted its stake in The Shyft Group by 28.9% in the fourth quarter. Olstein Capital Management L.P. now owns 245,000 shares of the company’s stock valued at $2,994,000 after buying an additional 55,000 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in The Shyft Group in the fourth quarter valued at approximately $124,000. 85.84% of the stock is owned by institutional investors and hedge funds.
The Shyft Group Company Profile
The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.
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