BidaskClub lowered shares of SP Plus (NASDAQ:SP) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of SP Plus from a hold rating to a buy rating and set a $43.00 price target on the stock in a research note on Saturday, November 4th. ValuEngine downgraded shares of SP Plus from a buy rating to a hold rating in a research note on Monday, October 2nd.

Shares of SP Plus (NASDAQ:SP) traded up $0.15 on Wednesday, hitting $38.05. 123,323 shares of the stock traded hands, compared to its average volume of 107,046. SP Plus has a 1-year low of $27.05 and a 1-year high of $41.25. The stock has a market capitalization of $856.92, a P/E ratio of 20.79, a P/E/G ratio of 2.05 and a beta of 1.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.50.

SP Plus (NASDAQ:SP) last posted its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The company had revenue of $392.70 million for the quarter, compared to the consensus estimate of $228.10 million. SP Plus had a net margin of 2.64% and a return on equity of 14.29%. sell-side analysts forecast that SP Plus will post 1.7 EPS for the current year.

In other SP Plus news, major shareholder Walter S. Woltosz sold 18,500 shares of the firm’s stock in a transaction dated Saturday, October 28th. The shares were sold at an average price of $16.37, for a total transaction of $302,845.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in SP Plus by 45.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 31,601 shares of the business services provider’s stock valued at $965,000 after purchasing an additional 9,835 shares during the period. First Trust Advisors LP boosted its holdings in shares of SP Plus by 21.3% in the 3rd quarter. First Trust Advisors LP now owns 17,868 shares of the business services provider’s stock valued at $706,000 after buying an additional 3,134 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of SP Plus by 22.3% in the 2nd quarter. Vanguard Group Inc. now owns 942,891 shares of the business services provider’s stock valued at $28,805,000 after buying an additional 172,123 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of SP Plus by 42.5% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 40,900 shares of the business services provider’s stock valued at $1,615,000 after buying an additional 12,200 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of SP Plus by 38.5% in the 3rd quarter. American Century Companies Inc. now owns 109,062 shares of the business services provider’s stock valued at $4,308,000 after buying an additional 30,335 shares in the last quarter. 96.53% of the stock is currently owned by institutional investors and hedge funds.

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SP Plus Company Profile

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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