William Blair Analysts Lift Earnings Estimates for SP Plus Co. (NASDAQ:SP)

SP Plus Co. (NASDAQ:SPGet Rating) – Investment analysts at William Blair lifted their Q3 2022 earnings per share (EPS) estimates for SP Plus in a research report issued on Wednesday, August 3rd. William Blair analyst T. Mulrooney now anticipates that the business services provider will post earnings per share of $0.77 for the quarter, up from their prior forecast of $0.68. The consensus estimate for SP Plus’ current full-year earnings is $2.90 per share. William Blair also issued estimates for SP Plus’ Q4 2022 earnings at $0.73 EPS.

Other analysts have also issued reports about the company. StockNews.com raised SP Plus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 5th. Barrington Research restated an “outperform” rating and issued a $47.00 price objective (up from $46.00) on shares of SP Plus in a report on Monday, May 16th.

SP Plus Stock Up 0.4 %

Shares of NASDAQ:SP opened at $34.64 on Monday. The stock’s 50-day moving average price is $31.78 and its two-hundred day moving average price is $30.32. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.22. SP Plus has a 12-month low of $25.29 and a 12-month high of $37.17. The firm has a market cap of $805.80 million, a price-to-earnings ratio of 15.96 and a beta of 1.43.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SP. Allspring Global Investments Holdings LLC acquired a new position in SP Plus during the 4th quarter valued at approximately $163,000. Assenagon Asset Management S.A. boosted its position in SP Plus by 52.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 91,280 shares of the business services provider’s stock valued at $2,576,000 after purchasing an additional 31,287 shares during the period. Bernzott Capital Advisors raised its stake in SP Plus by 8.0% during the 4th quarter. Bernzott Capital Advisors now owns 866,859 shares of the business services provider’s stock valued at $24,463,000 after acquiring an additional 64,557 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in SP Plus by 56.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 19,498 shares of the business services provider’s stock valued at $550,000 after acquiring an additional 7,061 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in SP Plus by 28.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,761 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 385 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

Insiders Place Their Bets

In other SP Plus news, CEO G Marc Baumann sold 2,000 shares of SP Plus stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $37.00, for a total transaction of $74,000.00. Following the sale, the chief executive officer now directly owns 187,879 shares in the company, valued at approximately $6,951,523. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.03% of the stock is owned by company insiders.

SP Plus Company Profile

(Get Rating)

SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.

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Earnings History and Estimates for SP Plus (NASDAQ:SP)

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