The Shyft Group (NASDAQ:SHYF) Given Neutral Rating at DA Davidson

The Shyft Group (NASDAQ:SHYF)‘s stock had its “neutral” rating restated by research analysts at DA Davidson in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $15.00 target price on the stock, down from their previous target price of $18.00. DA Davidson’s price target points to a potential upside of 21.85% from the company’s current price.

The Shyft Group Stock Down 1.8 %

Shares of SHYF opened at $12.31 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.82. The Shyft Group has a one year low of $9.81 and a one year high of $17.56. The stock has a market capitalization of $424.62 million, a price-to-earnings ratio of -102.58 and a beta of 1.63. The stock has a 50 day moving average price of $13.24 and a 200 day moving average price of $12.87.

Institutional Trading of The Shyft Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in The Shyft Group during the second quarter worth about $26,000. CWM LLC boosted its holdings in The Shyft Group by 260.9% in the 2nd quarter. CWM LLC now owns 4,731 shares of the company’s stock valued at $56,000 after purchasing an additional 3,420 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in The Shyft Group in the 2nd quarter valued at about $59,000. Point72 DIFC Ltd acquired a new position in The Shyft Group in the 2nd quarter valued at about $60,000. Finally, National Bank of Canada FI boosted its holdings in The Shyft Group by 6,784.7% in the 2nd 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 and hedge funds.

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.