The Shyft Group, Inc. (NASDAQ:SHYF) Plans Quarterly Dividend of $0.05

The Shyft Group, Inc. (NASDAQ:SHYF) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders of record on Thursday, February 27th will be given a dividend of 0.05 per share on Friday, March 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, February 27th.

The Shyft Group has increased its dividend payment by an average of 26.0% per year over the last three years. The Shyft Group has a payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect The Shyft Group to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 29.4%.

The Shyft Group Price Performance

Shares of SHYF stock traded up $0.20 during trading hours on Tuesday, reaching $12.41. The stock had a trading volume of 190,336 shares, compared to its average volume of 188,891. The Shyft Group has a 12 month low of $9.81 and a 12 month high of $17.56. The firm has a market capitalization of $428.02 million, a PE ratio of -103.42 and a beta of 1.66. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $11.91 and its 200 day simple moving average is $12.72.

Analysts Set New Price Targets

SHYF has been the subject of several research analyst reports. DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday, January 15th. Roth Mkm reiterated a “buy” rating and set a $16.00 target price on shares of The Shyft Group in a research report on Tuesday, December 17th.

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.