Spartan Motors (NASDAQ:SPAR) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

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.

Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Thursday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The business had revenue of $234.00 million during the quarter, compared to analyst estimates of $204.90 million. Spartan Motors had a return on equity of 8.21% and a net margin of 1.39%. Spartan Motors’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. On average, research analysts expect that Spartan Motors will post 0.61 EPS for the current year.

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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