Zacks: SP Plus Corp (SP) Given $43.00 Consensus Target Price by Analysts
Shares of SP Plus Corp (NASDAQ:SP) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a twelve-month consensus price objective of $43.00 for the company and are predicting that the company will post $0.61 EPS for the current quarter, according to Zacks. Zacks has also given SP Plus an industry rank of 118 out of 255 based on the ratings given to its competitors.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Thursday, May 17th. Barrington Research restated a “buy” rating and set a $42.00 price target on shares of SP Plus in a report on Wednesday, May 9th. ValuEngine upgraded shares of SP Plus from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Finally, BidaskClub upgraded shares of SP Plus from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SP. Deutsche Bank AG raised its position in shares of SP Plus by 36.0% in the fourth quarter. Deutsche Bank AG now owns 70,264 shares of the business services provider’s stock valued at $2,605,000 after purchasing an additional 18,585 shares during the period. Goldman Sachs Group Inc. raised its position in shares of SP Plus by 13.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 36,970 shares of the business services provider’s stock valued at $1,372,000 after purchasing an additional 4,491 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of SP Plus in the fourth quarter valued at approximately $322,000. Envestnet Asset Management Inc. bought a new stake in shares of SP Plus in the fourth quarter valued at approximately $120,000. Finally, Comerica Bank raised its position in shares of SP Plus by 3.7% in the first quarter. Comerica Bank now owns 74,544 shares of the business services provider’s stock valued at $2,725,000 after purchasing an additional 2,657 shares during the period. Hedge funds and other institutional investors own 96.47% of the company’s stock.
Shares of NASDAQ SP traded down $0.25 during mid-day trading on Wednesday, reaching $40.60. 73,590 shares of the company’s stock traded hands, compared to its average volume of 97,948. The stock has a market capitalization of $895.54 million, a P/E ratio of 23.88, a P/E/G ratio of 1.74 and a beta of 1.08. SP Plus has a 1-year low of $32.15 and a 1-year high of $41.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.87 and a quick ratio of 0.87.
SP Plus (NASDAQ:SP) last issued its quarterly earnings data on Tuesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The firm had revenue of $362.20 million during the quarter, compared to analysts’ expectations of $191.95 million. SP Plus had a net margin of 3.28% and a return on equity of 14.06%. equities research analysts anticipate that SP Plus will post 2.27 earnings per share for the current fiscal year.
SP Plus Company Profile
SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.
Further Reading: What does earnings per share mean?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SP Plus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SP Plus and related companies with MarketBeat.com's FREE daily email newsletter.