The Shyft Group (NASDAQ:SHYF) Hits New 52-Week High at $16.64

The Shyft Group, Inc. (NASDAQ:SHYF)’s stock price 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. The stock had previously closed at $16.30.

Analysts Set New Price Targets

Separately, DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $12.00 to $18.00 in a report on Monday.

The Shyft Group Stock Performance

The firm has a market capitalization of $526.55 million, a PE ratio of -1,528.00 and a beta of 1.66. 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 company’s fifty day simple moving average is $12.30 and its 200 day simple moving average is $11.72.

The Shyft Group (NASDAQ:SHYF) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The business had revenue of $192.80 million for the quarter, compared to the consensus estimate of $201.49 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The company’s revenue was down 14.3% compared to the same quarter last year. As a group, equities research analysts expect that The Shyft Group, Inc. will post 0.28 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 17th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, May 16th. The Shyft Group’s payout ratio is -2,000.00%.

Institutional Investors Weigh In On The Shyft Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of The Shyft Group by 15.0% in the second quarter. Rhumbline Advisers now owns 53,987 shares of the company’s stock worth $640,000 after buying an additional 7,050 shares in the last quarter. nVerses Capital LLC bought a new position in shares of The Shyft Group in the second quarter worth approximately $26,000. Panagora Asset Management Inc. bought a new position in shares of The Shyft Group in the second quarter worth approximately $790,000. 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 last quarter. Finally, 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 last quarter. 85.84% of the stock is owned by hedge funds and other institutional investors.

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.