Shares of The Shyft Group, Inc. (NASDAQ:SHYF) saw unusually-high trading volume on Thursday . Approximately 5,684 shares changed hands during trading, a decline of 97% from the previous session’s volume of 215,157 shares.The stock last traded at $37.96 and had previously closed at $38.29.
SHYF has been the topic of several research analyst reports. Zacks Investment Research raised shares of The Shyft Group from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Saturday, March 13th. Raymond James raised their target price on shares of The Shyft Group from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, March 18th. Finally, Colliers Securities lifted their price target on shares of The Shyft Group from $25.00 to $35.00 in a research report on Tuesday, January 5th.
The company has a 50-day moving average price of $35.90 and a 200-day moving average price of $28.34. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -473.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.57 and a current ratio of 1.96.
The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings results on Thursday, March 11th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. The Shyft Group had a negative net margin of 0.39% and a positive return on equity of 28.06%. The company had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $170.49 million. The Shyft Group’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that The Shyft Group, Inc. will post 1.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 25th. Shareholders of record on Thursday, February 25th were paid a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, February 24th. This represents a $0.10 dividend on an annualized basis and a yield of 0.26%. The Shyft Group’s payout ratio is 8.06%.
In other news, insider Stephen K. Guillaume sold 3,659 shares of the stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $40.54, for a total value of $148,335.86. Following the completion of the sale, the insider now owns 61,714 shares of the company’s stock, valued at approximately $2,501,885.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Daryl M. Adams sold 15,000 shares of the firm’s stock in a transaction on Friday, January 15th. The shares were sold at an average price of $29.68, for a total transaction of $445,200.00. Following the completion of the transaction, the chief executive officer now directly owns 498,103 shares of the company’s stock, valued at $14,783,697.04. The disclosure for this sale can be found here. Insiders sold a total of 48,659 shares of company stock worth $1,699,786 in the last 90 days. Company insiders own 3.95% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its holdings in shares of The Shyft Group by 1.0% during the fourth quarter. Federated Hermes Inc. now owns 32,987 shares of the company’s stock worth $936,000 after purchasing an additional 336 shares during the period. The Manufacturers Life Insurance Company increased its holdings in The Shyft Group by 2.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 20,903 shares of the company’s stock valued at $593,000 after buying an additional 491 shares during the period. Swiss National Bank lifted its holdings in shares of The Shyft Group by 1.0% during the 4th quarter. Swiss National Bank now owns 72,400 shares of the company’s stock worth $2,055,000 after acquiring an additional 700 shares during the period. LPL Financial LLC increased its stake in The Shyft Group by 1.7% in the fourth quarter. LPL Financial LLC now owns 50,642 shares of the company’s stock valued at $1,437,000 after acquiring an additional 845 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of The Shyft Group during the 4th quarter valued at $40,000. 75.15% of the stock is currently owned by institutional investors and hedge funds.
About The Shyft Group (NASDAQ:SHYF)
The Shyft Group, Inc, through its subsidiary Spartan Motors USA, Inc, manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. It operates through two segments, Fleet Vehicles and Services (FVS), and Specialty Chassis and Vehicles (SCV).
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