REV Group Inc [NYSE: REVG] gained 2.77% on the last trading session, reaching $23.03 price per share at the time. 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.
If compared to the average trading volume of 909.47K shares, REVG reached a trading volume of 2738508 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 0.82, with the Price to Sales ratio for REVG stock in the period of the last 12 months amounting to 0.45. The Price to Book ratio for the last quarter was 2.77, with the Price to Cash per share for the same quarter was set at 1.69. Price to Free Cash Flow for REVG in the course of the last twelve months was 49.38 with Quick ratio for the last quarter at 0.46.
Trading performance analysis for REVG stock
REV Group Inc [REVG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.63. With this latest performance, REVG shares gained by 10.93% in over the last four-week period, additionally plugging by 68.97% over the last 6 months – not to mention a rise of 129.96% 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 77.58, with the RSI for the last a single of trading hit 82.92, and the three-weeks RSI is set at 70.14 for REV Group Inc [REVG]. The present Moving Average for the last 50 days of trading for this stock 19.41, while it was recorded at 22.37 for the last single week of trading, and 16.09 for the last 200 days.
REV Group Inc [REVG]: A deeper dive into fundamental analysis
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.
REV Group Inc [REVG]: An earnings per share (EPS) analysis
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%.
An analysis of Institutional ownership at REV Group Inc [REVG]
The top three institutional holders of REVG stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in REVG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in REVG stock with ownership which is approximately 5.8386%.
