Zacks Investment Research upgraded shares of Spartan Motors, Inc. (NASDAQ:SPAR) from a hold rating to a buy rating in a research note published on Saturday morning. Zacks Investment Research currently has $9.75 target price on the stock.

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 brokerages also recently commented on SPAR. BidaskClub downgraded shares of Spartan Motors from a buy rating to a hold rating in a research note on Thursday, August 3rd. TheStreet raised shares of Spartan Motors from a c rating to a b- rating in a research note on Monday, May 15th. Finally, Roth Capital set a $12.00 target price on shares of Spartan Motors and gave the stock a buy rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $10.58.

Spartan Motors (NASDAQ SPAR) opened at 9.10 on Friday. The stock’s 50 day moving average price is $8.90 and its 200-day moving average price is $8.28. The company has a market capitalization of $319.35 million, a PE ratio of 85.05 and a beta of 1.11. Spartan Motors has a 52 week low of $6.30 and a 52 week high of $10.50.

Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Thursday, August 3rd. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Spartan Motors had a net margin of 0.59% and a return on equity of 5.57%. The company had revenue of $169.70 million for the quarter, compared to the consensus estimate of $167.83 million. During the same period in the previous year, the firm earned $0.19 earnings per share. Spartan Motors’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Spartan Motors will post $0.50 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC bought a new stake in Spartan Motors during the first quarter worth about $101,000. Airain ltd acquired a new position in shares of Spartan Motors during the first quarter worth $114,000. Eqis Capital Management Inc. boosted its position in shares of Spartan Motors by 46.7% in the first quarter. Eqis Capital Management Inc. now owns 15,358 shares of the company’s stock worth $123,000 after buying an additional 4,888 shares during the period. TFS Capital LLC acquired a new position in shares of Spartan Motors during the first quarter worth $123,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Spartan Motors during the first quarter worth $145,000. 66.81% of the stock is currently owned by institutional investors and hedge funds.

About Spartan Motors

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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