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

The Shyft Group (NASDAQ:SHYF) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Wednesday,Benzinga reports. The firm presently has a $15.00 price target on the stock. DA Davidson’s target price would indicate a potential upside of 42.31% from the company’s previous close.

Separately, Roth Mkm restated a “buy” rating and set a $16.00 price objective on shares of The Shyft Group in a research report on Tuesday, December 17th.

The Shyft Group Price Performance

SHYF stock opened at $10.54 on Wednesday. The company has a market capitalization of $363.57 million, a P/E ratio of -87.83 and a beta of 1.66. The company has a fifty day moving average price of $12.77 and a 200-day moving average price of $12.75. 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 52-week low of $9.81 and a 52-week high of $17.56.

Institutional Investors Weigh In On The Shyft Group

A number of large investors have recently bought and sold shares of SHYF. Federated Hermes Inc. grew its stake in shares of The Shyft Group by 15.6% in 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 period. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 9,588 shares in the last quarter. Barclays PLC increased its stake in The Shyft Group by 257.9% during the 3rd quarter. Barclays PLC now owns 45,666 shares of the company’s stock valued at $573,000 after purchasing an additional 32,906 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of The Shyft Group by 76.7% in the third quarter. Franklin Resources Inc. now owns 54,727 shares of the company’s stock valued at $669,000 after buying an additional 23,761 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of The Shyft Group by 301.4% during the third quarter. FMR LLC now owns 7,726 shares of the company’s stock valued at $97,000 after buying an additional 5,801 shares during the last quarter. 85.84% of the stock is currently 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.