The Shyft Group (NASDAQ:SHYF) Upgraded at DA Davidson

The Shyft Group (NASDAQ:SHYF) was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $15.00 price target on the stock. DA Davidson’s target price would indicate a potential upside of 21.65% from the company’s previous close.

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price target on shares of The Shyft Group in a report on Tuesday, December 17th.

The Shyft Group Stock Performance

Shares of SHYF opened at $12.33 on Wednesday. The firm has a market cap of $425.26 million, a price-to-earnings ratio of -102.75 and a beta of 1.66. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $12.72 and its two-hundred day moving average is $12.74. The Shyft Group has a 52-week low of $9.81 and a 52-week high of $17.56.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Royce & Associates LP raised its position in shares of The Shyft Group by 2.7% during the 3rd quarter. Royce & Associates LP now owns 953,018 shares of the company’s stock valued at $11,960,000 after acquiring an additional 24,770 shares in the last quarter. Geode Capital Management LLC lifted 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 worth $9,705,000 after buying an additional 9,588 shares during the last quarter. State Street Corp boosted its holdings in shares of The Shyft Group by 0.8% in the 3rd quarter. State Street Corp now owns 706,780 shares of the company’s stock valued at $8,870,000 after buying an additional 5,682 shares during the period. Federated Hermes Inc. grew its position in shares of The Shyft Group by 15.6% during the 2nd quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock valued at $7,907,000 after buying an additional 89,951 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in The Shyft Group by 16.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company’s stock worth $7,081,000 after acquiring an additional 78,550 shares during the period. Institutional investors 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.