REV Group, Inc. (REVG) Climbs 3.73% Today: Breaking Down The Root Causes

Stay Ahead of Wall Street. Find out what is happening to REV Group, Inc. (NYSE:REVG) stock today? Its price is jumping 0.36 points, trading at $10 levels, and is up 3.73% from its previous close of $9.64. The shares seem to have an active trading volume day with a reported 201583 contracts so far this session. REVG shares had a relatively better volume day versus average trading capacity of 227.82 thousand shares, but with a 26.58 million float and a -17.11% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for REVG stock indicates that the average analyst price target is $12.28 per share. This means the stock has a potential increase of 22.8% from where the REVG share price has been trading recently which is between $8.8864 and $9.775. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $6.

The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “REV Group appoints former Harley-Davidson executive as ambulance group president” and dated September 09, 2019.

During the recent trading session for REV Group, Inc. (NYSE:REVG), the company witnessed their stock drop by $-2.13 over a week and tumble down $-2.15 from the price 20 days ago. When compared to their established 52-week high of $16.31, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/20/18. The recent low of $6.41 stood for a -38.69% since 12/20/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for REV Group, Inc., the two-week RSI stands at 40.95. This figure suggests that REVG stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current REVG readings is similarly very revealing as it has a stochastic reading of 27.71% at this stage. This figure means that REVG share price today is being overbought.

Technical chart claims that REV Group, Inc. (REVG) would settle between $9.98/share to $10.32/share level. However, if the stock price goes below the $9.09 mark, then the market for REV Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $8.55 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.03. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Goldman lowered their recommendation on shares of REVG from Neutral to Sell in their opinion released on August 08. Credit Suisse analysts have lowered their rating of REV Group, Inc. (NYSE:REVG) stock from Outperform to Neutral in a separate flash note issued to investors on January 22. Analysts at Stifel are sticking to their Buy stance. However, on June 07, they lifted price target for these shares to $29 from $29.

REVG equity has an average rating of 2, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated REV Group, Inc. (NYSE:REVG) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, REVG stock price is currently trading at 8.92X forward 12-month Consensus EPS estimates, and its P/E ratio is 14.18 while for the average stock in the same group, the multiple is -18.66. REV Group, Inc. current P/B ratio of 1.16 means it is trading at a discount against its industry’s 2.13.

REV Group, Inc. (REVG)’s current-quarter revenues are projected to climb by nearly -3.09% to hit $639430, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 0.47% from $2.38 billion to a noteworthy $2.39 billion. At the other end of the current quarter income statement, REV Group, Inc. is expected to see its adjusted earnings surge by roughly 92.86% to hit $0.54 per share. For the fiscal year, REVG’s earnings are projected to climb by roughly 3.6% to hit $1.15 per share.