Spartan Motors, Inc. (NASDAQ:SPAR) - Analysts at Seaport Global Securities boosted their Q3 2017 EPS estimates for shares of Spartan Motors in a research note issued on Wednesday. Seaport Global Securities analyst R. Wood now expects that the company will post earnings per share of $0.25 for the quarter, up from their previous estimate of $0.17. Seaport Global Securities also issued estimates for Spartan Motors’ Q4 2017 earnings at $0.14 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.14 EPS and FY2018 earnings at $0.55 EPS.
Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. The firm had revenue of $169.70 million for the quarter, compared to the consensus estimate of $167.83 million. Spartan Motors had a net margin of 0.59% and a return on equity of 5.57%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. TRADEMARK VIOLATION NOTICE: “Spartan Motors, Inc. Forecasted to Post Q3 2017 Earnings of $0.25 Per Share (NASDAQ:SPAR)” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://stocknewstimes.com/2017/08/06/spartan-motors-inc-forecasted-to-post-q3-2017-earnings-of-0-25-per-share-nasdaqspar.html.
A number of other research firms also recently issued reports on SPAR. Roth Capital set a $12.00 price objective on Spartan Motors and gave the stock a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded Spartan Motors from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a report on Saturday, May 6th. BidaskClub downgraded Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday. Finally, TheStreet upgraded Spartan Motors from a “c” rating to a “b-” rating in a report on Monday, May 15th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Spartan Motors currently has a consensus rating of “Buy” and an average target price of $10.67.
Spartan Motors (NASDAQ:SPAR) opened at 9.20 on Friday. The stock has a market capitalization of $323.16 million, a P/E ratio of 85.98 and a beta of 1.11. Spartan Motors has a 12-month low of $6.30 and a 12-month high of $10.50. The firm’s 50-day moving average is $8.75 and its 200-day moving average is $8.22.
Institutional investors have recently modified their holdings of the stock. ClariVest Asset Management LLC bought a new position in shares of Spartan Motors during the first quarter valued at $101,000. Airain ltd bought a new position in shares of Spartan Motors during the first quarter valued at $114,000. TFS Capital LLC bought a new position in shares of Spartan Motors during the first quarter valued at $123,000. Eqis Capital Management Inc. increased 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 valued at $123,000 after buying an additional 4,888 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of Spartan Motors during the first quarter valued at $145,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.
In related news, Director Richard R. Current purchased 5,141 shares of Spartan Motors stock in a transaction dated Wednesday, May 10th. The stock was purchased at an average cost of $9.00 per share, for a total transaction of $46,269.00. Following the completion of the acquisition, the director now directly owns 90,000 shares of the company’s stock, valued at $810,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Frederick J. Sohm purchased 5,000 shares of Spartan Motors stock in a transaction dated Monday, May 8th. The shares were bought at an average price of $8.94 per share, with a total value of $44,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 157,327 shares of the company’s stock, valued at $1,406,503.38. The disclosure for this purchase can be found here. 3.72% of the stock is owned by company insiders.
Spartan Motors Company Profile
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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