The Shyft Group (NASDAQ:SHYF) Upgraded to “Buy” at DA Davidson

DA Davidson upgraded shares of The Shyft Group (NASDAQ:SHYF) from a neutral rating to a buy rating in a research report report published on Wednesday, MarketBeat reports. DA Davidson currently has $15.00 price objective on the stock.

Separately, Roth Mkm reiterated a “buy” rating and issued a $16.00 target price on shares of The Shyft Group in a report on Tuesday, December 17th.

The Shyft Group Trading Up 17.3 %

NASDAQ SHYF opened at $12.36 on Wednesday. The business’s 50-day moving average price is $12.77 and its two-hundred day moving average price is $12.75. 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 Shyft Group has a 12 month low of $9.81 and a 12 month high of $17.56.

The Shyft Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a $0.05 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.62%. The Shyft Group’s dividend payout ratio is currently -166.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Royce & Associates LP increased its stake in The Shyft Group by 2.7% in the third quarter. Royce & Associates LP now owns 953,018 shares of the company’s stock valued at $11,960,000 after purchasing an additional 24,770 shares in the last quarter. Geode Capital Management LLC increased its position in The Shyft Group by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 773,150 shares of the company’s stock valued at $9,705,000 after buying an additional 9,588 shares in the last quarter. State Street Corp raised its stake in The Shyft Group by 0.8% during the 3rd quarter. State Street Corp now owns 706,780 shares of the company’s stock worth $8,870,000 after buying an additional 5,682 shares during the period. Federated Hermes Inc. boosted its holdings in The Shyft Group by 15.6% in the second quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock worth $7,907,000 after acquiring an additional 89,951 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in The Shyft Group by 16.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company’s stock valued at $7,081,000 after acquiring an additional 78,550 shares during the period. Institutional investors and hedge funds own 85.84% of the company’s stock.

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.