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Monday, November 30, 2020

The Shyft Group Inc. (NASDAQ:SHYF) is Holding Steady

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The Shyft Group Inc. (SHYF) shares are trading at higher $19.37 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $22.75.

To add more color to this target, the company’s high over the last year is $20.70 and the low is $9.01. Over the last 52 weeks, SHYF is down -6.43% while the S&P 500 is up 0.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, SHYF reported a profit of $24.0 million. The Shyft Group Inc. also saw revenues increase to $123.97 million. In addition, SHYF has free cash flow of -$17.68 million as of 06-2020. The company’s EBITDA came in at $3.61 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SHYF has a short ratio of 2.30 and outstanding shares of 35.51M.

Company Outlook

SHYF has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.27 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 1.06. The Shyft Group Inc. SHYF also noted assets of $351.79 million at the end of the last quarter. Investors should also keep an eye on sector updates as SHYF has historically followed its peers on positive news.

All told, The Shyft Group Inc. SHYF has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SHYF represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

The Shyft Group Inc. SHYF is now commanding a market cap of 708.55M and a float of 32.12M. SHYF is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SHYF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in SHYF, either long or short, and we have not been compensated for this article.

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