Raymond James Increases The Shyft Group (NASDAQ:SHYF) Price Target to $40.00

The Shyft Group (NASDAQ:SHYFGet Rating) had its target price lifted by investment analysts at Raymond James from $28.00 to $40.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price target suggests a potential upside of 28.74% from the stock’s current price.

Separately, BTIG Research started coverage on shares of The Shyft Group in a research note on Thursday. They issued a “buy” rating and a $40.00 price target for the company.

The Shyft Group Trading Up 4.3 %

The Shyft Group stock opened at $31.07 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $25.70 and a two-hundred day moving average price of $23.85. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 28.50 and a beta of 1.75. The Shyft Group has a 52-week low of $17.66 and a 52-week high of $46.55.

The Shyft Group (NASDAQ:SHYFGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.13. The company had revenue of $286.08 million during the quarter, compared to analyst estimates of $279.70 million. The Shyft Group had a net margin of 3.91% and a return on equity of 15.42%. Sell-side analysts expect that The Shyft Group will post 0.97 earnings per share for the current year.

Insider Activity

In other The Shyft Group news, insider Stephen K. Guillaume sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $24.51, for a total value of $367,650.00. Following the transaction, the insider now owns 63,014 shares in the company, valued at approximately $1,544,473.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SHYF. Gradient Investments LLC bought a new stake in shares of The Shyft Group during the 4th quarter worth $27,000. Public Employees Retirement System of Ohio boosted its holdings in The Shyft Group by 55.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,301 shares of the company’s stock valued at $27,000 after purchasing an additional 466 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in The Shyft Group by 49.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,745 shares of the company’s stock valued at $32,000 after purchasing an additional 575 shares during the period. Point72 Hong Kong Ltd boosted its holdings in The Shyft Group by 33.2% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,339 shares of the company’s stock valued at $43,000 after purchasing an additional 583 shares during the period. Finally, UBS Group AG boosted its holdings in The Shyft Group by 57.5% in the 3rd quarter. UBS Group AG now owns 3,050 shares of the company’s stock valued at $63,000 after purchasing an additional 1,114 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

The Shyft Group Company Profile

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The Shyft Group, Inc engages in vehicle manufacturing and assembly for the commercial and retail vehicle industries as well as for the emergency response and recreational vehicle markets. It operates through the Fleet Vehicles and Services, and Specialty Vehicles segments. The Fleet Vehicles and Services segment manufactures commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, mobile retail, and trades and construction industries.

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