Roth Mkm Reiterates “Buy” Rating for The Shyft Group (NASDAQ:SHYF)

The Shyft Group (NASDAQ:SHYF)‘s stock had its “buy” rating reaffirmed by analysts at Roth Mkm in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $16.00 price objective on the stock. Roth Mkm’s target price would indicate a potential upside of 25.59% from the stock’s current price.

Separately, DA Davidson reissued a “neutral” rating and set a $15.00 price objective (down previously from $18.00) on shares of The Shyft Group in a report on Tuesday.

The Shyft Group Price Performance

NASDAQ:SHYF traded down $1.28 on Tuesday, hitting $12.74. The company had a trading volume of 409,751 shares, compared to its average volume of 294,956. The firm has a 50 day moving average of $13.21 and a two-hundred day moving average of $12.88. The stock has a market capitalization of $439.40 million, a price-to-earnings ratio of -106.17 and a beta of 1.63. The Shyft Group has a 52 week low of $9.81 and a 52 week high of $17.56. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44.

Institutional Investors Weigh In On The Shyft Group

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its position in The Shyft Group by 260.9% in the 2nd quarter. CWM LLC now owns 4,731 shares of the company’s stock valued at $56,000 after acquiring an additional 3,420 shares during the period. SG Americas Securities LLC grew its stake in shares of The Shyft Group by 95.0% in the second quarter. SG Americas Securities LLC now owns 17,948 shares of the company’s stock worth $213,000 after purchasing an additional 8,742 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in The Shyft Group by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 320,479 shares of the company’s stock valued at $3,801,000 after purchasing an additional 16,953 shares during the period. Panagora Asset Management Inc. bought a new position in The Shyft Group during the 2nd quarter worth $790,000. Finally, nVerses Capital LLC acquired a new position in The Shyft Group during the 2nd quarter worth about $26,000. 85.84% of the stock is currently 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.