REV Group Inc [NYSE: REVG] price surged by 3.16 percent to reach at $0.56. The company report on February 14, 2024 at 7:43 PM that REV Group, Inc. Announces Pricing of Upsized Secondary Offering of Common Stock and Concurrent Share Repurchase.
REV Group, Inc. (NYSE:REVG) announced today the pricing of the previously announced underwritten public offering, which has been upsized to 16,000,000 shares of common stock by certain selling stockholders at the public offering price of $16.50 per share. In connection with the offering, the selling stockholders have granted the underwriters an option to purchase up to 2,400,000 additional shares of common stock from the selling stockholders. REV Group is not selling any shares of common stock in the offering, and REV Group will not receive any proceeds from the offering by the selling stockholders. The offering is expected to close on or about February 20, 2024, subject to customary closing conditions.
Baird, Goldman Sachs & Co. LLC and Morgan Stanley are serving as joint book-running managers for the offering. D.A. Davidson & Co. is acting as co-manager for the offering.
The one-year REVG stock forecast points to a potential upside of 15.74. The average equity rating for REVG stock is currently 2.67, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on REV Group Inc [REVG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for REVG shares is $21.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on REVG stock is a recommendation set at 2.67. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
DA Davidson have made an estimate for REV Group Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 27, 2023.
The Average True Range (ATR) for REV Group Inc is set at 0.69, with the Price to Sales ratio for REVG stock in the period of the last 12 months amounting to 0.41. The Price to Book ratio for the last quarter was 2.18, with the Price to Cash per share for the same quarter was set at 0.36. Price to Free Cash Flow for REVG in the course of the last twelve months was 11.64 with Quick ratio for the last quarter at 0.49.
REVG Stock Performance Analysis:
REV Group Inc [REVG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.20. With this latest performance, REVG shares gained by 24.75% in over the last four-week period, additionally plugging by 60.61% over the last 6 months – not to mention a rise of 73.81% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for REVG stock in for the last two-week period is set at 72.93, with the RSI for the last a single of trading hit 51.47, and the three-weeks RSI is set at 52.24 for REV Group Inc [REVG]. The present Moving Average for the last 50 days of trading for this stock 17.90, while it was recorded at 17.53 for the last single week of trading, and 14.64 for the last 200 days.
Insight into REV Group Inc Fundamentals:
REV Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.49 and a Current Ratio set at 1.67.
REVG Stock EPS
With the latest financial reports released by the company, REV Group Inc posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for REVG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for REV Group Inc go to 19.01%.
REV Group Inc [REVG] Institutonal Ownership Details
The top three institutional holders of REVG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in REVG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in REVG stock with ownership which is approximately 5.8325%.
