Summit Creek Advisors LLC grew its holdings in The Shyft Group, Inc. (NASDAQ:SHYF – Get Rating) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 616,019 shares of the company’s stock after purchasing an additional 2,434 shares during the quarter. The Shyft Group comprises about 2.5% of Summit Creek Advisors LLC’s portfolio, making the stock its 19th biggest position. Summit Creek Advisors LLC’s holdings in The Shyft Group were worth $22,244,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Qube Research & Technologies Ltd lifted its stake in shares of The Shyft Group by 59.6% in the 1st quarter. Qube Research & Technologies Ltd now owns 47,239 shares of the company’s stock valued at $1,706,000 after purchasing an additional 17,638 shares during the period. Royce & Associates LP raised its stake in The Shyft Group by 2.6% during the 1st quarter. Royce & Associates LP now owns 537,390 shares of the company’s stock worth $19,405,000 after buying an additional 13,600 shares during the period. Advisor Group Holdings Inc. raised its stake in The Shyft Group by 220.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,482 shares of the company’s stock worth $306,000 after buying an additional 5,833 shares during the period. Envestnet Asset Management Inc. raised its stake in The Shyft Group by 115.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 22,667 shares of the company’s stock worth $818,000 after buying an additional 12,164 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in The Shyft Group by 61.4% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,170 shares of the company’s stock worth $42,000 after buying an additional 445 shares during the period. 81.18% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Raymond James dropped their price target on The Shyft Group from $57.00 to $50.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 26th. DA Davidson raised The Shyft Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $32.00 to $38.00 in a research note on Wednesday, July 13th. Finally, TheStreet lowered The Shyft Group from a “b-” rating to a “c+” rating in a report on Tuesday, May 17th.
The Shyft Group Stock Performance
The Shyft Group (NASDAQ:SHYF – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $232.20 million during the quarter, compared to analyst estimates of $223.03 million. The Shyft Group had a return on equity of 16.97% and a net margin of 4.33%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. Equities analysts forecast that The Shyft Group, Inc. will post 0.84 earnings per share for the current fiscal year.
About The Shyft Group
The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle 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 manufactures and sells 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.
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