Spartan Motors (NASDAQ:SPAR) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Spartan Motors (NASDAQ:SPAR) from a buy rating to a hold rating in a research report sent to investors on Thursday, BidAskClub reports.

Several other equities analysts have also recently issued reports on SPAR. Craig Hallum boosted their target price on Spartan Motors from $15.00 to $20.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Roth Capital reiterated a buy rating on shares of Spartan Motors in a research report on Friday, May 24th. ValuEngine upgraded Spartan Motors from a sell rating to a hold rating in a research report on Wednesday, July 17th. Finally, Zacks Investment Research cut Spartan Motors from a buy rating to a hold rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Spartan Motors presently has an average rating of Hold and a consensus price target of $15.00.

NASDAQ SPAR opened at $11.91 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $11.57 and its two-hundred day moving average is $9.65. Spartan Motors has a 12-month low of $6.70 and a 12-month high of $16.00. The stock has a market capitalization of $414.32 million, a price-to-earnings ratio of 24.81 and a beta of 1.54.

Spartan Motors (NASDAQ:SPAR) last released its earnings results on Thursday, August 1st. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). Spartan Motors had a return on equity of 8.65% and a net margin of 1.27%. The business had revenue of $247.94 million for the quarter, compared to analyst estimates of $235.60 million. Equities analysts forecast that Spartan Motors will post 0.74 earnings per share for the current fiscal year.

In related news, CEO Daryl M. Adams sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $13.23, for a total value of $165,375.00. Following the sale, the chief executive officer now owns 639,675 shares in the company, valued at approximately $8,462,900.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 37,500 shares of company stock worth $421,750 in the last quarter. 4.22% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Spartan Motors by 2.0% in the 2nd quarter. BlackRock Inc. now owns 2,332,562 shares of the company’s stock worth $25,565,000 after acquiring an additional 45,065 shares during the period. Vanguard Group Inc. grew its holdings in shares of Spartan Motors by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,639,260 shares of the company’s stock worth $17,966,000 after acquiring an additional 56,871 shares during the period. Royce & Associates LP grew its holdings in shares of Spartan Motors by 1.1% in the 1st quarter. Royce & Associates LP now owns 1,301,945 shares of the company’s stock worth $11,496,000 after acquiring an additional 14,113 shares during the period. Zuckerman Investment Group LLC grew its holdings in shares of Spartan Motors by 1.4% in the 2nd quarter. Zuckerman Investment Group LLC now owns 1,273,967 shares of the company’s stock worth $13,963,000 after acquiring an additional 17,680 shares during the period. Finally, Centaurus Financial Inc. grew its holdings in shares of Spartan Motors by 12,223.0% in the 2nd quarter. Centaurus Financial Inc. now owns 1,008,266 shares of the company’s stock worth $11,051,000 after acquiring an additional 1,000,084 shares during the period. Institutional investors and hedge funds own 66.52% of the company’s stock.

Spartan Motors Company Profile

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.

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