Spartan Motors, Inc. (NASDAQ:SPAR) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
SPAR has been the subject of several other reports. Zacks Investment Research downgraded Spartan Motors from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. TheStreet upgraded Spartan Motors from a “c” rating to a “b-” rating in a research report on Monday, May 15th. Roth Capital set a $12.00 target price on Spartan Motors and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, Seaport Global Securities reiterated a “buy” rating and set a $10.00 target price on shares of Spartan Motors in a research report on Thursday, April 6th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $10.67.
Shares of Spartan Motors (NASDAQ:SPAR) remained flat at $9.20 on Thursday. 116,952 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $8.75 and a 200-day moving average price of $8.22. Spartan Motors has a 52-week low of $6.30 and a 52-week high of $10.50. The company has a market cap of $323.16 million, a P/E ratio of 85.98 and a beta of 1.11.
Spartan Motors (NASDAQ:SPAR) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The business had revenue of $169.70 million during the quarter, compared to the consensus estimate of $167.83 million. Spartan Motors had a return on equity of 5.57% and a net margin of 0.59%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. On average, equities research analysts anticipate that Spartan Motors will post $0.50 earnings per share for the current fiscal year.
In related news, CFO Frederick J. Sohm bought 5,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was purchased at an average cost of $8.94 per share, for a total transaction of $44,700.00. Following the transaction, the chief financial officer now owns 157,327 shares in the company, valued at approximately $1,406,503.38. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard R. Current bought 5,141 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were bought at an average price of $9.00 per share, with a total value of $46,269.00. Following the completion of the transaction, the director now owns 90,000 shares in the company, valued at approximately $810,000. The disclosure for this purchase can be found here. Corporate insiders own 3.72% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. increased its stake in Spartan Motors by 7.0% in the first quarter. American International Group Inc. now owns 20,470 shares of the company’s stock worth $164,000 after buying an additional 1,346 shares during the last quarter. Eagle Global Advisors LLC increased its stake in Spartan Motors by 4.1% in the first quarter. Eagle Global Advisors LLC now owns 44,333 shares of the company’s stock worth $355,000 after buying an additional 1,750 shares during the last quarter. Exchange Capital Management Inc. increased its stake in Spartan Motors by 9.1% in the first quarter. Exchange Capital Management Inc. now owns 30,000 shares of the company’s stock worth $240,000 after buying an additional 2,500 shares during the last quarter. Eqis Capital Management Inc. increased its stake in Spartan Motors by 16.4% in the second quarter. Eqis Capital Management Inc. now owns 17,871 shares of the company’s stock worth $158,000 after buying an additional 2,513 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in Spartan Motors by 12.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 25,563 shares of the company’s stock worth $205,000 after buying an additional 2,776 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.
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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