The Shyft Group, Inc. (NASDAQ:SHYF) Short Interest Update

The Shyft Group, Inc. (NASDAQ:SHYF) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 448,100 shares, an increase of 23.6% from the March 15th total of 362,600 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average trading volume of 254,000 shares, the short-interest ratio is currently 1.8 days.

Analyst Ratings Changes

Separately, DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday, January 15th.

Hedge Funds Weigh In On The Shyft Group

Several institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of The Shyft Group by 301.4% in the 3rd quarter. FMR LLC now owns 7,726 shares of the company’s stock valued at $97,000 after acquiring an additional 5,801 shares during the period. State Street Corp increased its stake in The Shyft Group by 0.8% in the third quarter. State Street Corp now owns 706,780 shares of the company’s stock valued at $8,870,000 after purchasing an additional 5,682 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in The Shyft Group by 1,062.8% in the third quarter. Public Employees Retirement System of Ohio now owns 18,477 shares of the company’s stock worth $232,000 after purchasing an additional 16,888 shares during the period. Barclays PLC boosted its position in shares of The Shyft Group by 257.9% during the third quarter. Barclays PLC now owns 45,666 shares of the company’s stock worth $573,000 after purchasing an additional 32,906 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in The Shyft Group by 1.3% during the third quarter. Geode Capital Management LLC now owns 773,150 shares of the company’s stock worth $9,705,000 after acquiring an additional 9,588 shares in the last quarter. 85.84% of the stock is currently owned by institutional investors and hedge funds.

The Shyft Group Trading Down 3.5 %

SHYF stock opened at $7.13 on Tuesday. 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 Shyft Group has a twelve month low of $6.90 and a twelve month high of $17.56. The company has a market cap of $249.07 million, a P/E ratio of -79.21 and a beta of 1.83. The business has a fifty day moving average of $9.21 and a 200-day moving average of $11.38.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.09). The Shyft Group had a negative net margin of 0.36% and a positive return on equity of 2.75%. The business had revenue of $201.43 million during the quarter, compared to analyst estimates of $211.90 million. As a group, equities research analysts expect that The Shyft Group will post 0.68 EPS for the current year.

The Shyft Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, February 27th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.20 annualized dividend and a dividend yield of 2.81%. The Shyft Group’s dividend payout ratio is currently -222.22%.

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.