The Shyft Group (NASDAQ:SHYF) Given “Buy” Rating at Roth Mkm

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

Separately, DA Davidson restated a “neutral” rating and issued a $15.00 price target (down from $18.00) on shares of The Shyft Group in a research note on Tuesday.

The Shyft Group Stock Performance

Shares of NASDAQ:SHYF traded down $1.28 during trading on Tuesday, reaching $12.74. 409,751 shares of the stock were exchanged, compared to its average volume of 294,956. The Shyft Group has a 12 month low of $9.81 and a 12 month high of $17.56. The stock has a 50-day moving average price of $13.21 and a 200-day moving average price of $12.88. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. The firm has a market cap of $439.40 million, a PE ratio of -106.17 and a beta of 1.63.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. CWM LLC grew its position in The Shyft Group by 260.9% during the second quarter. CWM LLC now owns 4,731 shares of the company’s stock worth $56,000 after buying an additional 3,420 shares in the last quarter. SG Americas Securities LLC increased its position 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 period. Bank of New York Mellon Corp increased its position in shares of 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 worth $3,801,000 after purchasing an additional 16,953 shares during the period. Panagora Asset Management Inc. acquired a new position in The Shyft Group in the second quarter valued at about $790,000. Finally, nVerses Capital LLC bought a new stake in The Shyft Group during the second quarter worth about $26,000. 85.84% of the stock is owned by institutional investors.

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.