Rev Group Inc’s Lock-Up Period Will End on July 26th (NASDAQ:REVG)

Rev Group’s (NASDAQ:REVG) lock-up period is set to expire on Wednesday, July 26th. Rev Group had issued 12,500,000 shares in its IPO on January 27th. The total size of the offering was $275,000,000 based on an initial share price of $22.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Separately, Zacks Investment Research raised shares of Rev Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Rev Group presently has a consensus rating of “Buy” and a consensus price target of $32.38.

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Rev Group (NASDAQ:REVG) opened at 25.87 on Wednesday. The company has a market cap of $1.65 billion and a P/E ratio of 88.29. Rev Group has a 52 week low of $24.34 and a 52 week high of $31.60. The company has a 50-day moving average of $27.85 and a 200 day moving average of $27.47.

Rev Group (NASDAQ:REVG) last announced its earnings results on Tuesday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Rev Group had a net margin of 1.25% and a return on equity of 6.72%. The business had revenue of $545.32 million during the quarter, compared to analyst estimates of $570.27 million. On average, equities analysts forecast that Rev Group will post $1.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.20 annualized dividend and a yield of 0.77%.

A number of large investors have recently made changes to their positions in REVG. Schroder Investment Management Group purchased a new position in Rev Group during the first quarter worth about $10,310,000. Wells Fargo & Company MN purchased a new position in Rev Group during the first quarter worth about $17,811,000. OppenheimerFunds Inc. purchased a new position in Rev Group during the first quarter worth about $4,071,000. Driehaus Capital Management LLC purchased a new position in Rev Group during the first quarter worth about $2,282,000. Finally, Eagle Asset Management Inc. purchased a new position in Rev Group during the first quarter worth about $1,250,000.

About Rev Group

REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).