The Shyft Group (NASDAQ:SHYF) Trading 17.1% Higher – Time to Buy?

Shares of The Shyft Group, Inc. (NASDAQ:SHYF) traded up 17.1% during trading on Monday . The company traded as high as $15.02 and last traded at $14.90. 238,984 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 292,327 shares. The stock had previously closed at $12.72.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Roth Mkm reissued a “buy” rating and issued a $16.00 price objective on shares of The Shyft Group in a research report on Tuesday. DA Davidson reiterated a “neutral” rating and issued a $15.00 target price (down from $18.00) on shares of The Shyft Group in a research note on Tuesday.

The Shyft Group Price Performance

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 company has a market capitalization of $432.55 million, a P/E ratio of -104.50 and a beta of 1.63. The company has a 50 day moving average price of $13.22 and a 200 day moving average price of $12.87.

The Shyft Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.59%. The Shyft Group’s dividend payout ratio (DPR) is -166.67%.

Hedge Funds Weigh In On The Shyft Group

Several large investors have recently modified their holdings of SHYF. nVerses Capital LLC bought a new stake in shares of The Shyft Group during the 2nd quarter worth about $26,000. CWM LLC lifted its position in The Shyft Group by 260.9% during the second quarter. CWM LLC now owns 4,731 shares of the company’s stock worth $56,000 after acquiring an additional 3,420 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of The Shyft Group during the second quarter worth approximately $59,000. Point72 DIFC Ltd acquired a new position in shares of The Shyft Group in the second quarter valued at approximately $60,000. Finally, National Bank of Canada FI grew its position in shares of The Shyft Group by 6,784.7% in the second quarter. National Bank of Canada FI now owns 5,852 shares of the company’s stock valued at $65,000 after purchasing an additional 5,767 shares during the last quarter. 85.84% of the stock is owned by institutional investors.

About The Shyft Group

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.