REV Group Inc [NYSE: REVG] stock went on a downward path that fall over -3.18% on Thursday, amounting to a one-week price decrease of less than -4.18%. The company report on March 13, 2024 at 8:20 PM that REV Group, Inc. Announces Pricing of Secondary Offering of Common Stock.
REV Group, Inc. (NYSE:REVG) (the “Company”) announced today the pricing of the previously announced underwritten secondary public offering of 7,395,191 shares of the Company’s common stock (the “Offering”) by American Industrial Partners Capital Fund IV, LP and American Industrial Partners Capital Fund IV (Parallel), LP (the “Selling Stockholders”) at an offering price of $18.00 per share.
The Offering consists entirely of shares of the Company’s common stock to be sold by the Selling Stockholders, and the Company will not receive any proceeds from the sale of the shares being offered by the Selling Stockholders. The Offering is expected to close on March 15, 2024, subject to customary closing conditions.
Over the last 12 months, REVG stock rose by 81.39%. The one-year REV Group Inc stock forecast points to a potential upside of 21.5. The average equity rating for REVG stock is currently 2.67, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $962.44 million, with 59.51 million shares outstanding and 42.87 million shares in the current float. Compared to the average trading volume of 691.06K shares, REVG stock reached a trading volume of 4959876 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $23.67 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 new note on the price target was released on March 06, 2023, representing the official price target for REV Group Inc stock. Previously, the target price had yet another raise to $11, while DA Davidson analysts kept a Neutral rating on REVG stock.
The Average True Range (ATR) for REV Group Inc is set at 0.84, with the Price to Sales ratio for REVG stock in the period of the last 12 months amounting to 0.36. The Price to Book ratio for the last quarter was 2.24, with the Price to Cash per share for the same quarter was set at 1.70. Price to Free Cash Flow for REVG in the course of the last twelve months was 39.77 with Quick ratio for the last quarter at 0.46.
REVG Stock Performance Analysis:
REV Group Inc [REVG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.18. With this latest performance, REVG shares gained by 10.20% in over the last four-week period, additionally plugging by 56.88% over the last 6 months – not to mention a rise of 81.39% 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 48.90, with the RSI for the last a single of trading hit 40.79, and the three-weeks RSI is set at 48.04 for REV Group Inc [REVG]. The present Moving Average for the last 50 days of trading for this stock 18.60, while it was recorded at 18.69 for the last single week of trading, and 15.51 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 0.46 and a Current Ratio set at 1.35.
REVG Stock EPS
With the latest financial reports released by the company, REV Group Inc posted 0.35/share EPS, while the average EPS was predicted by analysts to be reported at 0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 94.40%. 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%.
