In yesterday’s Wall Street session, The Shyft Group Inc. (NASDAQ:SHYF) shares traded at $15.11, up 12.51% from the previous session.
As of this writing, 5 analysts cover The Shyft Group Inc. (NASDAQ:SHYF). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $26.00 and a low of $16.00, we find $18.00. Given the previous closing price of $13.43, this indicates a potential upside of 34.03 percent. SHYF stock price is now -33.17% away from the 50-day moving average and -38.67% away from the 200-day moving average. The market capitalization of the company currently stands at $468.41M.
There are 2 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $18.80 as their price target over the next twelve months.
With the price target reduced from $32 to $16, DA Davidson Downgraded its rating from Buy to Neutral for The Shyft Group Inc. (NASDAQ: SHYF).
In other news, GUILLAUME STEPHEN K, President, Specialty Vehicles sold 4,000 shares of the company’s stock on Mar 09. The stock was sold for $105,720 at an average price of $26.43. Upon completion of the transaction, the President, Specialty Vehicles now directly owns 63,792 shares in the company, valued at $0.96 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 08, President, Specialty Vehicles GUILLAUME STEPHEN K sold 4,000 shares of the business’s stock. A total of $106,320 was realized by selling the stock at an average price of $26.58. This leaves the insider owning 67,792 shares of the company worth $1.02 million. Insiders disposed of 174,743 shares of company stock worth roughly $2.64 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SHYF stock. In total, there are 254 active investors with 87.00% ownership of the company’s stock.
Friday morning saw The Shyft Group Inc. (NASDAQ: SHYF) opened at $13.29. During the past 12 months, The Shyft Group Inc. has had a low of $12.91 and a high of $34.10. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 1.80, and a quick ratio of 1.20. According to the stock market information, the enterprise value for the company is $626.01M, which is based on a 12.71 price-to-earnings ratio, a 0.85 price-to-earnings-growth ratio, and a beta of 1.93. The fifty day moving average price for SHYF is $22.47 and a two-hundred day moving average price translates $24.61 for the stock.
The latest earnings results from The Shyft Group Inc. (NASDAQ: SHYF) was released for Jun, 2023. The net profit margin was 3.40% and return on equity was 14.50% for SHYF. The company reported revenue of $225.1 million for the quarter, compared to $232.19 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.06 percent.
Moreover, the firm recently paid out its quarterly dividend on 06/20/2023. Investors who held shares on 05/17/2023 were paid a $0.05 dividend. On an annualized basis, this represents a $0.20 dividend and a 1.32% percent yield. There was an ex-dividend date of 05/16/2023 for this dividend. In terms of dividend payout ratio, SHYF is presently at 16.80%.
The Shyft Group Inc.(SHYF) Company Profile
The Shyft Group, Inc. manufactures and assembles specialty vehicles for the commercial vehicle 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 manufactures and sells 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. This segment markets its commercial vehicles, including walk-in vans, cutaway vans, and truck bodies under the Aeromaster, Velocity, Trademaster, and Utilivan brands; and vocation-specific equipment upfit services under the Utilimaster Upfit Services and Strobes-R-Us brands. It also installs specialty interior and exterior up-fit equipment for walk-in vans, truck bodies, cargo vans, and light duty pick-up trucks; and provides aftermarket support, including parts sales and field services, as well as parts and accessories. The Specialty Vehicles segment engineers and manufactures luxury class A diesel motor home chassis; and manufactures and assembles truck bodies under the Royal Truck Body and DuraMag brands. It also provides final assembly services for Isuzu N-gas and F-series chassis under the Builtmore Contract Manufacturing brand; and designs and installs custom lighting and upfit solutions for a range of specialty industries. In addition, this segment provides truck accessories under the Magnum brand; and a range of parts and accessories, and maintenance and repair services for its motorhome and specialty chassis. The Shyft Group, Inc. sells its products to commercial users, original equipment manufacturers, dealers, individuals, municipalities, and other government entities. The company was formerly known as Spartan Motors, Inc. and changed its name to The Shyft Group, Inc. in June 2020. The Shyft Group, Inc. was incorporated in 1975 and is headquartered in Novi, Michigan.
