BidaskClub lowered shares of Spartan Motors, Inc. (NASDAQ:SPAR) from a buy rating to a hold rating in a research report released on Thursday, August 3rd.
A number of other brokerages have also commented on SPAR. Roth Capital set a $12.00 price target on Spartan Motors and gave the company 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 target on the stock in a report on Saturday, May 6th. TheStreet upgraded Spartan Motors from a c rating to a b- rating in a report on Monday, May 15th. Finally, Seaport Global Securities restated a buy rating and issued a $10.00 price target on shares of Spartan Motors in a 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. Spartan Motors currently has an average rating of Buy and an average price target of $10.67.
Shares of Spartan Motors (SPAR) opened at 8.70 on Thursday. Spartan Motors has a 52 week low of $6.30 and a 52 week high of $10.50. The company has a 50-day moving average price of $8.90 and a 200 day moving average price of $8.26. The stock has a market capitalization of $305.31 million, a P/E ratio of 81.31 and a beta of 1.11.
Spartan Motors (NASDAQ:SPAR) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $169.70 million for the quarter, compared to analyst estimates of $167.83 million. Spartan Motors had a return on equity of 5.57% and a net margin of 0.59%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. Analysts forecast that Spartan Motors will post $0.50 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This article was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://stocknewstimes.com/2017/08/17/spartan-motors-inc-spar-rating-lowered-to-hold-at-bidaskclub-updated.html.
A number of hedge funds have recently added to or reduced their stakes in SPAR. State Street Corp raised its stake in Spartan Motors by 4.5% in the fourth quarter. State Street Corp now owns 472,675 shares of the company’s stock valued at $4,372,000 after buying an additional 20,275 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Spartan Motors by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,812,248 shares of the company’s stock valued at $26,014,000 after buying an additional 139,467 shares during the last quarter. AQR Capital Management LLC raised its stake in Spartan Motors by 281.9% in the fourth quarter. AQR Capital Management LLC now owns 122,797 shares of the company’s stock valued at $1,136,000 after buying an additional 90,645 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Spartan Motors during the fourth quarter valued at about $246,000. Finally, Nationwide Fund Advisors raised its stake in Spartan Motors by 132.1% in the first quarter. Nationwide Fund Advisors now owns 214,572 shares of the company’s stock valued at $1,717,000 after buying an additional 122,117 shares in the last quarter. Institutional investors and hedge funds own 64.72% 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.
Receive News & Ratings for Spartan Motors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spartan Motors Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
