Spartan Motors Hits New 52-Week Low at $4.43 (SPAR)
Spartan Motors (NASDAQ:SPAR) reached a new 52-week low during mid-day trading on Thursday , Analyst Ratings News reports. The company traded as low as $4.43 and last traded at $4.51, with a volume of 65,644 shares trading hands. The stock had previously closed at $4.56.
Separately, analysts at Zacks downgraded shares of Spartan Motors from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 8th. They now have a $4.60 price target on the stock.
The stock has a 50-day moving average of $4.97 and a 200-day moving average of $5.4. The company’s market cap is $155.1 million. Spartan Motors also was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 955,272 shares, an increase of 39.7% from the June 13th total of 683,832 shares. Based on an average trading volume of 495,312 shares, the days-to-cover ratio is presently 1.9 days. Approximately 2.9% of the shares of the stock are short sold.
Spartan Motors (NASDAQ:SPAR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.02. The company had revenue of $128.00 million for the quarter, compared to the consensus estimate of $110.17 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was up 33.2% on a year-over-year basis. On average, analysts predict that Spartan Motors will post $0.05 earnings per share for the current fiscal year.
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company has five wholly owned operating subsidiaries: Spartan Motors Chassis, Inc (NASDAQ:SPAR), Crimson Fire, Inc (Crimson), Crimson Fire Aerials, Inc (Crimson Aerials), Utilimaster Corporation (Utilimaster) and Classic Fire LLC (Classic Fire).
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