Spartan Motors (NASDAQ:SPAR) Upgraded at ValuEngine
Several other analysts have also issued reports on SPAR. Craig Hallum upped their target price on Spartan Motors from $12.00 to $15.00 in a research note on Tuesday. BidaskClub raised Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. Roth Capital reaffirmed a “buy” rating on shares of Spartan Motors in a research note on Friday, May 24th. Finally, Zacks Investment Research lowered Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Spartan Motors has an average rating of “Buy” and an average target price of $12.67.
SPAR traded up $0.35 during midday trading on Wednesday, hitting $11.87. The stock had a trading volume of 351,077 shares, compared to its average volume of 165,762. The stock has a market capitalization of $350.33 million, a P/E ratio of 24.73 and a beta of 1.55. The company’s fifty day moving average is $9.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.14 and a current ratio of 1.69. Spartan Motors has a 1 year low of $6.70 and a 1 year high of $16.10.
In other news, insider Daryl M. Adams sold 12,500 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $9.52, for a total transaction of $119,000.00. Following the completion of the sale, the insider now owns 664,675 shares of the company’s stock, valued at $6,327,706. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 37,500 shares of company stock valued at $375,250. Insiders own 3.78% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SPAR. BNP Paribas Arbitrage SA boosted its stake in shares of Spartan Motors by 54,830.8% during the first quarter. BNP Paribas Arbitrage SA now owns 7,141 shares of the company’s stock valued at $63,000 after purchasing an additional 7,128 shares during the period. Citigroup Inc. boosted its stake in shares of Spartan Motors by 17.0% during the fourth quarter. Citigroup Inc. now owns 10,989 shares of the company’s stock valued at $79,000 after purchasing an additional 1,593 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of Spartan Motors by 374.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,765 shares of the company’s stock valued at $85,000 after purchasing an additional 9,283 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Spartan Motors during the fourth quarter valued at approximately $122,000. Finally, Sawtooth Solutions LLC purchased a new stake in shares of Spartan Motors during the first quarter valued at approximately $298,000. 65.68% of the stock is owned by hedge funds and other institutional investors.
Spartan Motors Company Profile
Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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