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DA Davidson gives a Buy recommendation for REV Group Inc (REVG)

REV Group Inc’s recent filing unveils that its No longer a 10% owner. AMERICAN INDUSTRIAL PARTNERS C unloaded Company’s shares for reported $127.57 million on Mar 15 ’24. In the deal valued at $17.25 per share,7,395,191 shares were sold. As a result of this transaction, AMERICAN INDUSTRIAL PARTNERS C now holds 1,767,314 shares worth roughly $38.09 million.

Then, AMERICAN INDUSTRIAL PARTNERS C sold 18,400,000 shares, generating $289,938,000 in total proceeds. Upon selling the shares at $15.76, the 10% Owner now owns 9,162,505 shares.

DA Davidson upgraded its REV Group Inc [REVG] rating to a Buy from a a Neutral in a research note published on September 27, 2023; the price target was increased to $20 from $16. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who increased its forecast for the stock in early March from “a Neutral” to “an Outperform”. DA Davidson began covering REVG with “Neutral” recommendation on June 29, 2022. Robert W. Baird revised its rating on April 08, 2022. It rated REVG as “a Neutral” which previously was an “an Outperform”.

Price Performance Review of REVG

On Monday, REV Group Inc [NYSE:REVG] saw its stock jump 1.46% to $21.55. Over the last five days, the stock has lost -0.14%. REV Group Inc shares have risen nearly 40.10% since the year began. Nevertheless, the stocks have risen 141.52% over the past one year. While a 52-week high of $23.85 was reached on 04/05/24, a 52-week low of $8.34 was recorded on 02/14/24. SMA at 50 days reached $20.63, while 200 days put it at $16.86. A total of 0.62 million shares were traded, compared to the trading of 0.52 million shares in the previous session.

Levels Of Support And Resistance For REVG Stock

The 24-hour chart illustrates a support level at 21.24, which if violated will result in even more drops to 20.93. On the upside, there is a resistance level at 21.75. A further resistance level may holdings at 21.95. The Relative Strength Index (RSI) on the 14-day chart is 52.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.01%. Stochastics %K at 32.36% indicates the stock is a holding.

The most recent change occurred on June 16, 2021 when Credit Suisse resumed its ‘”an Underperform”‘ rating for the stock and retained the price target to $13.

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