The Shyft Group, Inc. manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. The company's Fleet Vehicles and Services segment manufactures and sells commercial vehicles that are used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries. This segment markets its commercial vehicles under the Aeromaster, Velocity, Trademaster, and Utilivan brand names; and vocation-specific equipment upfit services under the Utilimaster Upfit Services and Strobes-R-Us brands. It also installs specialty interior and exterior up-fit equipment for walk-in vans, truck bodies, and passenger vans under the Specialty Upfit name; provides aftermarket support, including parts sales and field services; and parts and accessories for its walk-in vans and truck bodies. The company's Specialty Vehicle segment engages in the engineering and manufacture of luxury class A diesel motor home chassis; manufacture and assemble of truck body options for various trades, service truck bodies, stake body trucks, contractor trucks, and dump bed trucks under the Royal Truck Body and DuraMag go-to-market brand names; and provision of chassis and complete vehicle assembly services for other specialty chassis and vehicles. This segment also offers assembly services for Isuzu N-gas and F-series chassis; and parts and accessories for motorhome and specialty chassis, as well as related maintenance and repair services. The company sells its products to commercial users, original equipment manufacturers, dealers, individuals, municipalities, and other government entities. The company was formerly known as Spartan Motors, Inc. and changed its name to The Shyft Group, Inc. in June 2020. The Shyft Group, Inc. was incorporated in 1975 and is headquartered in Novi, Michigan.
IPO Year:
Exchange: NASDAQ
Website: theshyftgroup.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/29/2024 | $12.00 → $18.00 | Neutral → Buy | DA Davidson |
| 10/27/2023 | Buy → Neutral | BTIG Research | |
| 7/28/2023 | $32.00 → $16.00 | Buy → Neutral | DA Davidson |
| 1/19/2023 | $40.00 | Buy | BTIG Research |
| 7/13/2022 | $32.00 → $38.00 | Neutral → Buy | DA Davidson |
| 4/6/2022 | Buy → Neutral | DA Davidson | |
| 2/25/2022 | $57.00 | Outperform → Strong Buy | Raymond James |
| 11/5/2021 | $50.00 → $55.00 | Buy | DA Davidson |
| 8/11/2021 | $50.00 | Buy | DA Davidson |
| 8/9/2021 | $45.00 → $46.00 | Outperform | Raymond James |
NOVI, Mich., Oct. 30, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The Michigan-based manufacturer reported that its quarterly dividend will be payable on December 16, 2024 to shareholders of record as of the close of business on November 15, 2024. About The Shyft Group The Shyft Grou
NOVI, Mich., Oct. 28, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced strategic partnerships with Allegiance Trucks, LLC, and Ascendance Trucks, LLC, to establish dealer sales and service for the Blue Arc™ Class 4 all-electric truck. These agreements expand Blue Arc's dealer network in the Northeast region, enhancing its reach and accessibility in the commercial EV market. "At The Shyft Group, we are comm
Expanded gross margin to 20.4%, up 210 basis points year-over-yearBlue Arc Class 4 vehicle now in production with first customer deliveries expected in the fourth quarterMaintained full year 2024 adjusted EBITDA outlook of $45 to $50 million; positioned for significant profit growth in 2025NOVI, Mich., Oct. 24, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty vehicle markets, today reported operating results for the third quarter ending September 30, 2024.
NOVI, Mich., Oct. 10, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, will announce its third quarter 2024 financial results prior to the market opening on Thursday, October 24, 2024. A conference call and webcast will begin at 8:30 A.M. Eastern Time. Teleconference and webcast access:A listen-only presentation, supporting materials, and repl
Commitment to environmental stewardship, social impact, and governance excellence continues to drive progress NOVI, Mich., Sept. 17, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced the release of its 2024 Sustainability Report, Focusing Forward, Sustainably. The report outlines strategic efforts in reducing emissions, improving workplace safety, advancing belonging and inclusion, and assessing future climate impacts through the company's first physical climate risk assessment. The full report is available at: Sustainabi
NOVI, Mich., Sept. 12, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, announced today that its management team will be hosting investors at the D.A. Davidson 23rd Annual Diversified Industrials & Services Conference on Thursday, September 19, 2024, in Nashville, Tennessee. About The Shyft GroupThe Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit
Nationwide Access to Innovative EV Solutions and Significant Financial Incentives for Customers NOVI, Mich., Sept. 5, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, has announced that its Blue Arc™ Class 4 EV truck has received both Zero-Emission Powertrain Certification (ZEPCert) and a Heavy-Duty Greenhouse Gas (GHG) Enhanced Electric Executive Order from the California Air Resources Board (CARB). These certifications allow Shyft's Blue Arc trucks to be sold across all 50 states, providing customers with access to cutting-edge, comme
Production Begins in Charlotte, Michigan, Demonstrates Builtmore's Agility in Adapting to the Evolving EV Market CHARLOTTE, Mich., Sept. 3, 2024 /PRNewswire/ -- Builtmore Contract Manufacturing™, a go-to-market brand of The Shyft Group, Inc. (NASDAQ:SHYF), the North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty vehicle markets, has commenced production of the Isuzu NRR-EV at its facility in Charlotte, Michigan. This achievement stems from a long-standing relationship between Builtmore and Isuzu North America Corporation, bringing an innovative electric vehicle option to the commercial market.
NOVI, Mich., Aug. 28, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, announced today that its management team will be hosting investors at the 15th Annual Midwest IDEAS Investor Conference on Thursday, August 29, 2024 in Chicago. About The Shyft GroupThe Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service spec
NOVI, Mich., Aug. 8, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, announced today that its management team will be meeting with investors at the Raymond James Industrial and Energy Showcase on August 8, 2024. About The Shyft GroupThe Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle marke
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NOVI, Mich., July 25, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service markets, today announced it acquired Independent Truck Upfitters (ITU), a leading service body and work truck upfitter based in the Midwest. "We are thrilled to welcome ITU to the Shyft Group family. ITU's unique products and capabilities are a fantastic complement to our existing portfolio, allowing us to offer even greater value to our collective customers," said John Dunn, Pr
NOVI, Mich., March 06, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ:SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, was selected to join the Ford Pro™ Upfitter program, created to provide a seamless end-to-end experience for mutual customers. This designation underscores Shyft's coast-to-coast footprint and reinforces the importance of the collective expertise of Shyft's diverse brand portfolio, promoting cross-brand synergies that drive specialized, customer-focused solutions. "We are thrilled to be named a Ford Pro Upfitter, which is a natural outcome of our long collabo
NOVI, Mich., Jan. 09, 2024 (GLOBE NEWSWIRE) -- The Shyft Group (NASDAQ:SHYF) ("Shyft" or "the Company"), the North American leader in specialty vehicle manufacturing, announced that it has appointed Jacob Farmer as President of Fleet Vehicles and Services (FVS), effective today, reporting to John Dunn, President and CEO. In his new role, Farmer is responsible for FVS operations and implementing the business's strategic vision. Farmer previously served as President of Shyft's Specialty Vehicles (SV) business. "Since joining Shyft in July 2023, Jacob's strong operational and people leadership has positioned SV for sustained growth and success," said Dunn. "Given near term parcel market ch
NOVI, Mich., July 10, 2023 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ:SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today named Jacob Farmer as President, Specialty Vehicles, effective July 17, 2023. In his new role, Mr. Farmer will be responsible for all aspects of the business, working with his senior leadership team across seven go-to-market brands to guide the strategic vision of the business unit and oversee its implementation to deliver shareholder value. The Specialty Vehicles business segment includes Royal® Truck Body, DuraMag® and Magnum®, Strobes-R-Us, Spartan® RV
Board Initiates CEO Succession Process; Daryl Adams to Step Down as President and CEO Once Successor is Appointed The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or "the Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that its Board of Directors and Daryl Adams have initiated a succession process whereby Mr. Adams will transition from the role of President and CEO once a successor has been appointed. At that time, he will also resign from the Board of Directors and will remain with the Company in an advisory capacity for six months to help ensure a smooth transition
NOVI, Mich., Dec. 14, 2022 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ:SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today named industry veteran John Dunn as President, Fleet Vehicles and Services (FVS), effective in January 2023. In his new role, Mr. Dunn will be responsible for all aspects of the business, working with his senior leadership team to guide the strategic vision of the business unit and overseeing its implementation. "We are pleased to welcome John to The Shyft Group and we're confident that his breadth of leadership experience and ability to successfully
NOVI, Mich., June 20, 2022 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ:SHYF) (the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today named industry veteran Randy Wilson as Vice President, Investor Relations and Group Treasurer, effective June 20, 2022. In his new role, Mr. Wilson will be responsible for all aspects of the investor relations and treasury functions at The Shyft Group. He brings extensive experience in investor relations, finance, capital markets and sustainability, having most recently led the Investor Relations function at Terex Corporation. "We are p
NOVI, Mich., May 17, 2021 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) (the "Company"), the North American leader in specialty vehicle manufacturing and assembly for the commercial and fleet vehicle industries (including last mile delivery, specialty service and vocation-specific upfit markets), as well as for the recreational vehicle markets, today announced the appointment of Joshua Sherbin as Chief Legal Officer and Chief Compliance Officer. Sherbin brings more than two decades of experience in corporate legal and compliance. He most recently served for 16 years as
NOVI, Mich., Jan. 4, 2021 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ: SHYF) ("Shyft" or the "Company"), North America's leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, today announced that Terri Pizzuto and Mark Rourke have been appointed to the Company's Board of Directors, effective January 4, 2021. Pizzuto was also appointed to the Board's Audit Committee, and Rourke was appointed to the Board's Human Resources and Compensation Committee. "We welcome Terri and Mark to The Shyft Group's Board of Directors and very much look forward to adding their ins
NOVI, Mich., Oct. 30, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The Michigan-based manufacturer reported that its quarterly dividend will be payable on December 16, 2024 to shareholders of record as of the close of business on November 15, 2024. About The Shyft Group The Shyft Grou
Expanded gross margin to 20.4%, up 210 basis points year-over-yearBlue Arc Class 4 vehicle now in production with first customer deliveries expected in the fourth quarterMaintained full year 2024 adjusted EBITDA outlook of $45 to $50 million; positioned for significant profit growth in 2025NOVI, Mich., Oct. 24, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty vehicle markets, today reported operating results for the third quarter ending September 30, 2024.
NOVI, Mich., Oct. 10, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, will announce its third quarter 2024 financial results prior to the market opening on Thursday, October 24, 2024. A conference call and webcast will begin at 8:30 A.M. Eastern Time. Teleconference and webcast access:A listen-only presentation, supporting materials, and repl
NOVI, Mich., Aug. 2, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The Michigan-based manufacturer reported that its quarterly dividend will be payable on September 16, 2024 to shareholders of record as of the close of business on August 16, 2024. About The Shyft Group The Shyft Group
Delivered sales of $193 million, EPS of $0.06 and adjusted EPS of $0.16Received order for 150 Blue Arc™ EV Trucks from FedEx; Blue Arc Class 4 vehicle production remains on track for 2024Acquired Independent Truck Upfitters (ITU) to further accelerate Specialty Vehicles growthIncreased full year 2024 adjusted EBITDA midpoint with updated outlook now at $45 to $50 million NOVI, Mich., July 25, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty vehicle markets, today reported operating results for the second quarter ending June 30,
NOVI, Mich., July 17, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, will announce its second quarter 2024 financial results prior to the market opening on Thursday, July 25, 2024. A conference call and webcast will begin at 8:30 A.M. Eastern Time Teleconference and webcast access:A listen-only presentation, supporting materials, and replay
NOVI, Mich., May 3, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The Michigan-based manufacturer reported that its quarterly dividend will be payable on June 17, 2024 to shareholders of record as of the close of business on May 17, 2024. About The Shyft Group The Shyft Group is the No
First quarter sales of $198 million; Quarter end consolidated backlog of $439 million with FVS backlog up 10% sequentiallyMaintains 2024 outlook with sales of $850 to $900 million and adjusted EBITDA of $40 to $50 millionNOVI, Mich., April 25, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty vehicle markets, today reported operating results for the first quarter ending March 31, 2024. First Quarter 2024 Financial
NOVI, Mich., April 16, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, will announce its first quarter 2024 financial results prior to the market opening on Thursday, April 25, 2024. A conference call and webcast will begin at 8:30 A.M. Eastern Time Teleconference and webcast access:A listen-only presentation, supporting materials, and replay
Generated free cash flow of $36 million in the year; improvement of $75 million year-over-yearDelivered record profitability in Specialty Vehicles business Introduces 2024 outlook with sales of $850 to $900 million and adjusted EBITDA of $40 to $50 million NOVI, Mich., Feb. 22, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ:SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty vehicle markets, today reported operating results for the fourth quarter and full-year ending December 31, 2023. Fourth Quarter 2023 Financial Highlights For the fourth quarter of 2023 compar
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DA Davidson upgraded The Shyft Group from Neutral to Buy and set a new price target of $18.00 from $12.00 previously
BTIG Research downgraded The Shyft Group from Buy to Neutral
DA Davidson downgraded The Shyft Group from Buy to Neutral and set a new price target of $16.00 from $32.00 previously
BTIG Research initiated coverage of The Shyft Group with a rating of Buy and set a new price target of $40.00
DA Davidson upgraded The Shyft Group from Neutral to Buy and set a new price target of $38.00 from $32.00 previously
DA Davidson downgraded The Shyft Group from Buy to Neutral
Raymond James upgraded Shyft Group from Outperform to Strong Buy and set a new price target of $57.00
DA Davidson reiterated coverage of Shyft Group with a rating of Buy and set a new price target of $55.00 from $50.00 previously
DA Davidson initiated coverage of Shyft Group with a rating of Buy and set a new price target of $50.00
Raymond James reiterated coverage of Shyft Group with a rating of Outperform and set a new price target of $46.00 from $45.00 previously
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Shyft Group (NASDAQ:SHYF) reported quarterly earnings of $0.16 per share which beat the analyst consensus estimate of $0.09 by 77.78 percent. This is a 36 percent decrease over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $192.78 million which missed the analyst consensus estimate of $201.47 million by 4.31 percent. This is a 14.36 percent decrease over sales of $225.10 million the same period last year.
The ITU acquisition aligns with Shyft's Specialty Vehicles infrastructure focused growth strategy.
Guidance for full-year 2024, notwithstanding further changes in the operating environment, is as follows: ● Sales to be in the range of $850 million to $900 million; Assumes no Blue Arc EV revenue ● Adjusted EBITDA of $40 to $50 million, including EV spending of $20 to $25 million ● Net income of $2.5 to $10.5 million, with an income tax rate of approximately 20% ● Earnings per share of $0.07 to $0.30 ● Adjusted earnings per share of $0.28 to $0.51 ● Capital expenditures of approximately $20 to
Shyft Group (NASDAQ:SHYF) reported quarterly losses of $(0.04) per share which beat the analyst consensus estimate of $(0.17) by 76.47 percent. This is a 133.33 percent decrease over earnings of $0.12 per share from the same period last year. The company reported quarterly sales of $197.889 million which beat the analyst consensus estimate of $184.275 million by 7.39 percent. This is a 18.71 percent decrease over sales of $243.439 million the same period last year.
DA Davidson analyst Michael Shlisky maintains Shyft Group (NASDAQ:SHYF) with a Neutral and lowers the price target from $13 to $12.
The Shyft Group, Inc. (NASDAQ:SHYF) shares are rising on Thursday. The company reported fourth-quarter adjusted earnings per share of $(0.03) loss, narrower than the analyst consensus of $(0.04) loss. Quarterly sales of $202.333 million beat the Wall Street view of $191.55 million. Sales slumped 33% year over year. The company registered consolidated backlog of $409.3 million as of December 31, 2023, down 50.9% year over year. Fleet Vehicles and Services sales were $119.0 million for the fourth quarter, down 44.1% year over year. Specialty Vehicles (SV) sales were $83.4 million for the fourth quarter, a decrease of 10.6% from the year-ago period. “Looking ahead, the challen