Spartan Motors, Inc. (SPAR) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Spartan Motors, Inc. (NASDAQ:SPAR) from a buy rating to a hold rating in a report issued on Saturday morning.
According to Zacks, “Spartan is a leading designer, engineer and manufacturer of custom heavy-duty chassis. The Company’s chassis consist of a frame assembly, engine, transmission, electrical systems, running gear (wheels, tires, axles, suspension and brakes) and, for some applications, a cab. The Company’s customers are original equipment manufacturers (OEMs) who complete their vehicle product by mounting the body or apparatus on a Spartan chassis. “
A number of other research firms also recently commented on SPAR. Roth Capital lifted their price target on Spartan Motors from $12.00 to $20.00 and gave the stock a buy rating in a research note on Tuesday, October 17th. Craig Hallum set a $20.00 target price on Spartan Motors and gave the company a buy rating in a research note on Friday, October 13th. BidaskClub downgraded Spartan Motors from a buy rating to a hold rating in a research note on Thursday, August 3rd. Finally, TheStreet downgraded Spartan Motors from a b- rating to a c+ rating in a research note on Thursday, August 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $17.00.
Spartan Motors (NASDAQ SPAR) opened at $14.65 on Friday. The company has a market capitalization of $537.08, a PE ratio of 42.50, a P/E/G ratio of 2.49 and a beta of 1.23. Spartan Motors has a 52 week low of $6.30 and a 52 week high of $17.20. The company has a quick ratio of 0.95, a current ratio of 1.70 and a debt-to-equity ratio of 0.14.
Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.03). The firm had revenue of $189.22 million during the quarter, compared to analyst estimates of $185.30 million. Spartan Motors had a return on equity of 8.04% and a net margin of 2.15%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. analysts anticipate that Spartan Motors will post 0.41 EPS for the current fiscal year.
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The business also recently announced a Semi-Annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a yield of 0.65%. Spartan Motors’s payout ratio is currently 24.39%.
A number of hedge funds have recently modified their holdings of SPAR. MARSHALL WACE ASIA Ltd acquired a new position in Spartan Motors in the first quarter valued at approximately $145,000. Eqis Capital Management Inc. boosted its stake in Spartan Motors by 16.4% in the second quarter. Eqis Capital Management Inc. now owns 17,871 shares of the company’s stock valued at $158,000 after acquiring an additional 2,513 shares during the period. American International Group Inc. boosted its stake in Spartan Motors by 7.0% in the first quarter. American International Group Inc. now owns 20,470 shares of the company’s stock valued at $164,000 after acquiring an additional 1,346 shares during the period. Voya Investment Management LLC boosted its stake in Spartan Motors by 18.9% in the second quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock valued at $170,000 after acquiring an additional 3,049 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Spartan Motors by 12.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 25,563 shares of the company’s stock valued at $205,000 after acquiring an additional 2,776 shares during the period. Institutional investors own 66.64% of the company’s stock.
Spartan Motors Company Profile
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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