Spartan Motors Inc (NASDAQ:SPAR) has received an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $20.33.
A number of research firms have issued reports on SPAR. ValuEngine cut shares of Spartan Motors from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. BidaskClub cut shares of Spartan Motors from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 23rd. Zacks Investment Research upgraded shares of Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Tuesday, November 5th. Sidoti upped their price target on shares of Spartan Motors from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, TheStreet upgraded shares of Spartan Motors from a “c+” rating to a “b-” rating in a report on Friday, October 18th.
Spartan Motors stock traded down $0.14 during mid-day trading on Wednesday, hitting $17.27. 256,000 shares of the company’s stock were exchanged, compared to its average volume of 189,596. The company has a current ratio of 1.72, a quick ratio of 1.19 and a debt-to-equity ratio of 0.71. The stock has a market cap of $616.42 million, a P/E ratio of 35.98 and a beta of 1.46. Spartan Motors has a 1-year low of $6.97 and a 1-year high of $19.31. The stock has a 50 day moving average of $16.90 and a two-hundred day moving average of $12.81.
Spartan Motors (NASDAQ:SPAR) last posted its earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.08. The firm had revenue of $288.95 million for the quarter, compared to the consensus estimate of $231.49 million. Spartan Motors had a net margin of 1.70% and a return on equity of 11.81%. The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. As a group, research analysts predict that Spartan Motors will post 0.89 EPS for the current fiscal year.
The business also recently announced a Semi-Annual dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 14th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, November 13th. Spartan Motors’s payout ratio is presently 20.83%.
In related news, CEO Daryl M. Adams sold 12,500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $17.57, for a total value of $219,625.00. Following the completion of the sale, the chief executive officer now owns 589,675 shares in the company, valued at $10,360,589.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 37,500 shares of company stock valued at $618,625. 3.78% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Mesirow Financial Investment Management Inc. boosted its position in shares of Spartan Motors by 12.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 62,517 shares of the company’s stock worth $639,000 after purchasing an additional 6,733 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Spartan Motors by 6.6% in the 2nd quarter. First Trust Advisors LP now owns 138,058 shares of the company’s stock worth $1,513,000 after acquiring an additional 8,602 shares during the last quarter. Aperio Group LLC bought a new stake in shares of Spartan Motors in the 2nd quarter worth approximately $33,000. Trellus Management Company LLC lifted its holdings in shares of Spartan Motors by 8.4% in the 2nd quarter. Trellus Management Company LLC now owns 81,925 shares of the company’s stock worth $898,000 after acquiring an additional 6,364 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Spartan Motors by 82.1% in the 2nd quarter. Wells Fargo & Company MN now owns 767,326 shares of the company’s stock worth $8,410,000 after acquiring an additional 346,055 shares during the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.
About Spartan Motors
Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.
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