Phocas Financial Corp. Has $6.33 Million Holdings in REV Group, Inc. (NYSE:REVG)

Phocas Financial Corp. grew its position in REV Group, Inc. (NYSE:REVG) by 46.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 477,326 shares of the company’s stock after purchasing an additional 151,595 shares during the period. Phocas Financial Corp. owned about 0.80% of REV Group worth $6,329,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Swiss National Bank increased its holdings in shares of REV Group by 7.0% during the 1st quarter. Swiss National Bank now owns 68,900 shares of the company’s stock valued at $923,000 after acquiring an additional 4,500 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of REV Group by 7.4% during the 1st quarter. Bank of New York Mellon Corp now owns 258,422 shares of the company’s stock valued at $3,463,000 after acquiring an additional 17,750 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of REV Group by 38.6% during the 1st quarter. American Century Companies Inc. now owns 112,712 shares of the company’s stock valued at $1,510,000 after acquiring an additional 31,403 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of REV Group by 7.9% during the 1st quarter. Bank of Montreal Can now owns 34,948 shares of the company’s stock valued at $483,000 after acquiring an additional 2,566 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of REV Group by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 15,792 shares of the company’s stock valued at $212,000 after acquiring an additional 5,631 shares during the last quarter. 94.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

REVG has been the topic of a number of analyst reports. StockNews.com lowered REV Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 13th. The Goldman Sachs Group increased their target price on REV Group from $13.00 to $14.00 in a research note on Wednesday, September 13th. BMO Capital Markets increased their target price on REV Group from $14.00 to $15.00 in a research note on Wednesday, June 14th. DA Davidson increased their target price on REV Group from $13.50 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, September 14th. Finally, Credit Suisse Group increased their target price on REV Group from $12.00 to $13.00 in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, REV Group currently has a consensus rating of “Hold” and an average price target of $15.17.

REV Group Price Performance

Shares of REV Group stock traded up $0.04 during midday trading on Tuesday, hitting $14.97. 148,515 shares of the company were exchanged, compared to its average volume of 180,430. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.65 and a quick ratio of 0.48. The firm has a market cap of $887.87 million, a P/E ratio of 36.42 and a beta of 1.98. REV Group, Inc. has a 52 week low of $9.85 and a 52 week high of $16.38. The firm has a 50 day simple moving average of $13.40 and a 200-day simple moving average of $12.26.

REV Group (NYSE:REVG) last released its quarterly earnings results on Wednesday, September 13th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. REV Group had a return on equity of 12.00% and a net margin of 0.95%. The firm had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $627.17 million. During the same period last year, the firm posted $0.21 EPS. The business’s revenue was up 14.3% on a year-over-year basis. Research analysts forecast that REV Group, Inc. will post 0.82 earnings per share for the current year.

REV Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.34%. REV Group’s dividend payout ratio is 48.78%.

REV Group Profile

REV Group, Inc designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Europe, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment provides fire apparatus equipment under the Emergency One, Kovatch Mobile Equipment, Ferrara, Spartan Emergency Response, Smeal, and Ladder Tower brands; and ambulances under the American Emergency Vehicles, Horton Emergency Vehicles, Leader Emergency Vehicles, Road Rescue, and Wheeled Coach brands.