Roth Mkm Reiterates Buy Rating for The Shyft Group (NASDAQ:SHYF)

Roth Mkm reaffirmed their buy rating on shares of The Shyft Group (NASDAQ:SHYF) in a report published on Tuesday morning,Benzinga reports. They currently have a $16.00 target price on the stock.

Separately, DA Davidson restated a “neutral” rating and issued a $15.00 price target (down from $18.00) on shares of The Shyft Group in a report on Tuesday.

The Shyft Group Price Performance

Shares of SHYF stock opened at $11.40 on Tuesday. The stock’s 50-day moving average is $13.23 and its 200 day moving average is $12.86. The Shyft Group has a 1-year low of $9.81 and a 1-year high of $17.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16. The company has a market cap of $393.23 million, a P/E ratio of -95.00 and a beta of 1.63.

The Shyft Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.75%. The Shyft Group’s dividend payout ratio is presently -166.67%.

Institutional Trading of The Shyft Group

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its position in The Shyft Group by 76.7% during the 3rd quarter. Franklin Resources Inc. now owns 54,727 shares of the company’s stock valued at $669,000 after buying an additional 23,761 shares in the last quarter. Barclays PLC increased its holdings in shares of The Shyft Group by 257.9% during the third quarter. Barclays PLC now owns 45,666 shares of the company’s stock valued at $573,000 after acquiring an additional 32,906 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 9,588 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in The Shyft Group by 1,062.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,477 shares of the company’s stock worth $232,000 after purchasing an additional 16,888 shares in the last quarter. Finally, State Street Corp boosted its stake in The Shyft Group by 0.8% in the 3rd quarter. State Street Corp now owns 706,780 shares of the company’s stock worth $8,870,000 after purchasing an additional 5,682 shares in the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.

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.