The Shyft Group (NASDAQ:SHYF) Sets New 12-Month High at $16.64

The Shyft Group, Inc. (NASDAQ:SHYF) hit a new 52-week high on Tuesday . The company traded as high as $16.64 and last traded at $16.52, with a volume of 93788 shares trading hands. The stock had previously closed at $16.30.

Analyst Ratings Changes

Separately, DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $12.00 to $18.00 in a research note on Monday.

The Shyft Group Stock Up 2.8 %

The firm has a 50-day moving average price of $12.09 and a 200 day moving average price of $11.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.86 and a quick ratio of 1.19.

The Shyft Group (NASDAQ:SHYF) last issued its earnings results on Thursday, July 25th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. The company had revenue of $192.80 million during the quarter, compared to analyst estimates 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 business’s revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. Equities analysts expect that The Shyft Group, Inc. will post 0.26 earnings per share for the current year.

The Shyft Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 17th were given a $0.05 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.19%. The Shyft Group’s payout ratio is -2,000.00%.

Institutional Trading of The Shyft Group

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of The Shyft Group by 15.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 514,217 shares of the company’s stock worth $6,284,000 after purchasing an additional 69,264 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of The Shyft Group by 36.1% in the 1st quarter. Acadian Asset Management LLC now owns 322,654 shares of the company’s stock worth $4,005,000 after purchasing an additional 85,594 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of The Shyft Group by 101.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 535,539 shares of the company’s stock worth $6,544,000 after purchasing an additional 270,284 shares during the last quarter. Pzena Investment Management LLC bought a new stake in shares of The Shyft Group in the 1st quarter worth approximately $4,070,000. Finally, Vanguard Group Inc. lifted its holdings in shares of The Shyft Group by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,739,076 shares of the company’s stock worth $26,034,000 after purchasing an additional 28,179 shares during the last quarter. Institutional investors own 85.84% of the company’s stock.

About The Shyft Group

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.