Spartan Motors (SPAR) Lowered to Hold at BidaskClub
BidaskClub downgraded shares of Spartan Motors (NASDAQ:SPAR) from a buy rating to a hold rating in a research report report published on Friday.
SPAR has been the subject of a number of other reports. Zacks Investment Research cut shares of Spartan Motors from a buy rating to a hold rating in a report on Saturday, November 4th. Craig Hallum set a $20.00 target price on shares of Spartan Motors and gave the company a buy rating in a report on Friday, October 13th. Sidoti initiated coverage on shares of Spartan Motors in a report on Friday, December 1st. They set a buy rating for the company. ValuEngine cut shares of Spartan Motors from a buy rating to a hold rating in a report on Friday, December 1st. Finally, TheStreet raised shares of Spartan Motors from a c+ rating to a b rating in a report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $17.00.
Shares of Spartan Motors (NASDAQ:SPAR) traded down $0.45 during mid-day trading on Friday, reaching $15.10. 130,386 shares of the company’s stock were exchanged, compared to its average volume of 346,580. Spartan Motors has a twelve month low of $6.30 and a twelve month high of $18.10. The stock has a market capitalization of $545.85, a PE ratio of 36.83, a P/E/G ratio of 1.92 and a beta of 1.21. The company has a current ratio of 1.70, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.
Spartan Motors (NASDAQ:SPAR) last announced its 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). Spartan Motors had a net margin of 2.15% and a return on equity of 8.04%. The business had revenue of $189.22 million for the quarter, compared to analysts’ expectations of $185.30 million. During the same period in the prior year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. sell-side analysts predict that Spartan Motors will post 0.41 earnings per share for the current year.
The company also recently declared a Semi-Annual dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were given a $0.05 dividend. The ex-dividend date was Tuesday, November 14th. This represents a dividend yield of 0.65%. Spartan Motors’s payout ratio is currently 24.39%.
In other Spartan Motors news, insider John W. Slawson sold 21,191 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $15.42, for a total value of $326,765.22. Following the completion of the transaction, the insider now directly owns 111,165 shares in the company, valued at $1,714,164.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.72% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in shares of Spartan Motors by 10.1% in the second quarter. Victory Capital Management Inc. now owns 148,850 shares of the company’s stock worth $1,317,000 after purchasing an additional 13,655 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Spartan Motors by 665.1% in the third quarter. Russell Investments Group Ltd. now owns 307,650 shares of the company’s stock worth $3,400,000 after purchasing an additional 267,441 shares during the period. State Street Corp boosted its position in shares of Spartan Motors by 11.6% in the second quarter. State Street Corp now owns 532,969 shares of the company’s stock worth $4,719,000 after purchasing an additional 55,350 shares during the period. First Trust Advisors LP bought a new position in shares of Spartan Motors in the third quarter worth approximately $1,378,000. Finally, Zuckerman Investment Group LLC bought a new position in shares of Spartan Motors in the third quarter worth approximately $2,850,000. Institutional investors and hedge funds own 66.23% of the company’s stock.
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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