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 |
|---|---|---|---|
| 1/15/2025 | $15.00 | Neutral → Buy | DA Davidson |
| 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 |
NOVI, Mich., Jan. 13, 2025 /PRNewswire/ -- The Shyft Group (NASDAQ:SHYF) ("Shyft") today provided supplemental information in a presentation to shareholders regarding its proposed merger with Aebi Schmidt Group ("Aebi Schmidt"), previously announced on December 16, 2024. The presentation focuses on three core areas including: The Strong Long-Term Projected Pro Forma Financial Profile of the Combined Company: Including the pro forma company financial projections that informed the Board as it considered the benefits of this transaction. This includes revenue and adjusted EBITDA
NOVI, Mich., Dec. 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 the appointment of Scott Ocholik, Vice President, Chief Accounting Officer, and Corporate Controller, as Interim Chief Financial Officer, effective January 1, 2025. "Scott has been a key member of our leadership team, and his financial expertise, operational knowledge, and steady leadership make him well-suite
Significant Scale in Attractive North American Market with Strong European PresenceHighly Complementary Portfolios Create Opportunities to Better Serve Customers and Drive Competitive Growth Expected to Generate 2024E Pro Forma1 Revenue of ~$1.95 Billion2 and Adjusted EBITDA3 of ~$200 Million+ Including SynergiesDrives Significant Shareholder Value with $25 – $30 Million in Expected Synergies4 by Year 2, EPS Accretion in Year 1 and ROIC Greater than Cost of Capital in Year 3 Post Close Barend Fruithof, Current CEO of Aebi Schmidt, Named President and CEO Elect; James Sharman, Current Chairman of Shyft Board, Named Chairman ElectCombined Company will Trade on NASDAQNOVI, Mich. and FRAUENFEL
NOVI, Mich., Dec. 10, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ:SHYF), a North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced the first shipments of its Blue Arc™ Class 4 EV truck to multiple customers, including initial deliveries to a leading parcel delivery customer. These shipments mark the transition to regular production to meet demand for electrified fleet solutions. "This is an exciting and proud moment for the Blue Arc team," said John Dunn, President a
NORTHVILLE, Mich., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), the global market leader of innovative thermal management and pneumatic comfort technologies for the automotive industry and a leader in medical patient temperature management systems, today announced that Jonathan ("Jon") Douyard will join the Company's leadership team as Executive Vice President, Chief Financial Officer and Treasurer, effective January 1, 2025. Douyard will lead all of Gentherm's finance, treasury, investor relations, and IT operations on a global basis, reporting to Gentherm's next President and CEO, Bill Presley. Douyard succeeds Matteo Anversa, who served as CFO until September 2024 when he
NOVI, Mich., Nov. 21, 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 Jon Douyard has resigned as Chief Financial Officer to pursue another professional opportunity outside the industry. He will continue to serve as CFO until December 31, 2024 to ensure a smooth transition. "On behalf of our employees, executive leadership team, and Board of Directors, I want to thank Jon f
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
Significant Scale in Attractive North American Market with Strong European PresenceHighly Complementary Portfolios Create Opportunities to Better Serve Customers and Drive Competitive Growth Expected to Generate 2024E Pro Forma1 Revenue of ~$1.95 Billion2 and Adjusted EBITDA3 of ~$200 Million+ Including SynergiesDrives Significant Shareholder Value with $25 – $30 Million in Expected Synergies4 by Year 2, EPS Accretion in Year 1 and ROIC Greater than Cost of Capital in Year 3 Post Close Barend Fruithof, Current CEO of Aebi Schmidt, Named President and CEO Elect; James Sharman, Current Chairman of Shyft Board, Named Chairman ElectCombined Company will Trade on NASDAQNOVI, Mich. and FRAUENFEL
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
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DA Davidson upgraded The Shyft Group from Neutral to Buy and set a new price target of $15.00
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
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NOVI, Mich., Dec. 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 the appointment of Scott Ocholik, Vice President, Chief Accounting Officer, and Corporate Controller, as Interim Chief Financial Officer, effective January 1, 2025. "Scott has been a key member of our leadership team, and his financial expertise, operational knowledge, and steady leadership make him well-suite
NORTHVILLE, Mich., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), the global market leader of innovative thermal management and pneumatic comfort technologies for the automotive industry and a leader in medical patient temperature management systems, today announced that Jonathan ("Jon") Douyard will join the Company's leadership team as Executive Vice President, Chief Financial Officer and Treasurer, effective January 1, 2025. Douyard will lead all of Gentherm's finance, treasury, investor relations, and IT operations on a global basis, reporting to Gentherm's next President and CEO, Bill Presley. Douyard succeeds Matteo Anversa, who served as CFO until September 2024 when he
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