DA Davidson Reiterates “Neutral” Rating for The Shyft Group (NASDAQ:SHYF)

The Shyft Group (NASDAQ:SHYF)‘s stock had its “neutral” rating restated by research analysts at DA Davidson in a report issued on Tuesday,Benzinga reports. They currently have a $15.00 target price on the stock, down from their prior target price of $18.00. DA Davidson’s target price points to a potential upside of 17.19% from the company’s current price.

The Shyft Group Trading Down 8.7 %

Shares of SHYF stock traded down $1.22 during mid-day trading on Tuesday, reaching $12.80. 380,576 shares of the stock traded hands, compared to its average volume of 294,808. The stock’s fifty day simple moving average is $13.21 and its two-hundred day simple moving average is $12.88. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44. The Shyft Group has a 1-year low of $9.81 and a 1-year high of $17.56. The company has a market cap of $441.47 million, a price-to-earnings ratio of -107.58 and a beta of 1.63.

Institutional Trading of The Shyft Group

Several institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC increased its position in shares of The Shyft Group by 889.8% during the second quarter. Pzena Investment Management LLC now owns 3,243,834 shares of the company’s stock worth $38,472,000 after buying an additional 2,916,101 shares during the period. Royce & Associates LP grew its holdings in The Shyft Group by 2.7% in the third quarter. Royce & Associates LP now owns 953,018 shares of the company’s stock worth $11,960,000 after purchasing an additional 24,770 shares during the period. 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 increased its holdings in shares of The Shyft Group by 0.8% during the third quarter. State Street Corp now owns 706,780 shares of the company’s stock valued at $8,870,000 after acquiring an additional 5,682 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in The Shyft Group by 15.6% during the 2nd quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock valued at $7,907,000 after purchasing an additional 89,951 shares in the last quarter. 85.84% of the stock is currently owned by institutional investors.

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.