Other equities analysts have also recently issued reports about the company. Sidoti reduced their target price on SP Plus from $52.00 to $40.00 and set a buy rating for the company in a research report on Thursday, March 26th. Barrington Research began coverage on shares of SP Plus in a research note on Thursday, May 28th. They issued a buy rating and a $36.00 price target for the company. Zacks Investment Research upgraded shares of SP Plus from a sell rating to a hold rating in a research report on Saturday, May 9th. Finally, BidaskClub lowered shares of SP Plus from a hold rating to a sell rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. SP Plus presently has a consensus rating of Hold and a consensus target price of $39.67.
NASDAQ SP opened at $19.62 on Thursday. The business’s fifty day moving average is $20.72 and its 200-day moving average is $29.97. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market capitalization of $451.20 million, a price-to-earnings ratio of -43.60, a PEG ratio of 1.58 and a beta of 1.28. SP Plus has a one year low of $14.44 and a one year high of $47.33.
SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.07. The company had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $225.00 million. SP Plus had a negative net margin of 0.47% and a positive return on equity of 16.83%. Research analysts expect that SP Plus will post 1.25 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of SP Plus by 1.0% during the first quarter. State Street Corp now owns 500,591 shares of the business services provider’s stock valued at $10,387,000 after purchasing an additional 4,908 shares during the last quarter. Advisor Group Holdings Inc. purchased a new position in SP Plus during the first quarter valued at approximately $39,000. Engineers Gate Manager LP boosted its holdings in SP Plus by 9.0% in the 1st quarter. Engineers Gate Manager LP now owns 34,867 shares of the business services provider’s stock worth $723,000 after buying an additional 2,881 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in shares of SP Plus by 9.2% in the first quarter. ArrowMark Colorado Holdings LLC now owns 820,299 shares of the business services provider’s stock valued at $17,021,000 after acquiring an additional 69,109 shares in the last quarter. Finally, P2 Capital Partners LLC lifted its holdings in SP Plus by 29.7% in the 1st quarter. P2 Capital Partners LLC now owns 1,594,889 shares of the business services provider’s stock worth $33,094,000 after purchasing an additional 365,657 shares in the last quarter. 91.32% of the stock is owned by institutional investors.
SP Plus Company Profile
SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.
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