The Shyft Group (NASDAQ:SHYF) Shares Up 17.1% – What’s Next?

The Shyft Group, Inc. (NASDAQ:SHYF) rose 17.1% during trading on Monday . The company traded as high as $15.02 and last traded at $14.90. Approximately 238,984 shares were traded during trading, a decline of 18% from the average daily volume of 292,327 shares. The stock had previously closed at $12.72.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SHYF. DA Davidson reissued a “neutral” rating and set a $15.00 target price (down from $18.00) on shares of The Shyft Group in a research note on Tuesday. Roth Mkm reissued a “buy” rating and set a $16.00 price objective on shares of The Shyft Group in a research report on Tuesday.

The Shyft Group Price Performance

The stock has a market cap of $432.55 million, a price-to-earnings ratio of -104.50 and a beta of 1.63. The company has a 50 day simple moving average of $13.22 and a 200-day simple moving average of $12.87. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44.

The Shyft Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, November 15th. The Shyft Group’s payout ratio is -166.67%.

Hedge Funds Weigh In On The Shyft Group

A number of large investors have recently bought and sold shares of SHYF. nVerses Capital LLC acquired a new stake in The Shyft Group in the 2nd quarter valued at $26,000. CWM LLC raised its holdings in The Shyft Group by 260.9% during the second quarter. CWM LLC now owns 4,731 shares of the company’s stock worth $56,000 after acquiring an additional 3,420 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in The Shyft Group during the second quarter valued at approximately $59,000. Point72 DIFC Ltd bought a new position in The Shyft Group in the second quarter valued at approximately $60,000. Finally, National Bank of Canada FI increased its position in shares of The Shyft Group by 6,784.7% during the 2nd quarter. National Bank of Canada FI now owns 5,852 shares of the company’s stock worth $65,000 after purchasing an additional 5,767 shares during the last quarter. Institutional investors and hedge funds 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.