SP Plus Corp (NASDAQ:SP) Given $45.50 Average Price Target by Analysts

Shares of SP Plus Corp (NASDAQ:SP) have been assigned an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation.

Brokers have set a twelve-month consensus target price of $45.50 for the company and are anticipating that the company will post $0.75 EPS for the current quarter, according to Zacks. Zacks has also assigned SP Plus an industry rank of 80 out of 256 based on the ratings given to related companies.

A number of analysts have recently commented on SP shares. BidaskClub upgraded SP Plus from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Barrington Research reiterated a “buy” rating and set a $43.00 target price on shares of SP Plus in a research report on Friday, February 22nd. ValuEngine cut SP Plus from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Finally, Zacks Investment Research cut SP Plus from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th.

In related news, insider Robert Toy sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $33.04, for a total transaction of $82,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gerard M. Klaisle sold 1,060 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $35.00, for a total value of $37,100.00. The disclosure for this sale can be found here. Insiders have sold 3,760 shares of company stock worth $126,700 in the last quarter. Insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bernzott Capital Advisors boosted its holdings in SP Plus by 0.3% in the 1st quarter. Bernzott Capital Advisors now owns 850,470 shares of the business services provider’s stock valued at $29,018,000 after purchasing an additional 2,815 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of SP Plus during the 1st quarter valued at approximately $444,000. SEI Investments Co lifted its position in shares of SP Plus by 11.3% during the 1st quarter. SEI Investments Co now owns 159,383 shares of the business services provider’s stock valued at $5,438,000 after acquiring an additional 16,119 shares during the period. Oxford Asset Management LLP lifted its position in shares of SP Plus by 20.5% during the 1st quarter. Oxford Asset Management LLP now owns 69,277 shares of the business services provider’s stock valued at $2,364,000 after acquiring an additional 11,783 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of SP Plus by 7.9% during the 1st quarter. Hsbc Holdings PLC now owns 13,700 shares of the business services provider’s stock valued at $467,000 after acquiring an additional 1,008 shares during the period. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

SP Plus stock traded down $0.49 during midday trading on Tuesday, reaching $32.72. The company’s stock had a trading volume of 49,540 shares, compared to its average volume of 110,475. SP Plus has a fifty-two week low of $27.13 and a fifty-two week high of $41.35. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market cap of $747.65 million, a PE ratio of 13.98, a P/E/G ratio of 1.25 and a beta of 1.08.

SP Plus (NASDAQ:SP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.15. SP Plus had a return on equity of 15.92% and a net margin of 3.21%. The company had revenue of $409.40 million for the quarter, compared to analysts’ expectations of $234.85 million. On average, research analysts expect that SP Plus will post 2.61 earnings per share for the current fiscal year.

SP Plus Company Profile

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.

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