Insider Buying: Spartan Motors CEO Purchases 20,000 Shares of Stock (SPAR)
Spartan Motors (NASDAQ:SPAR) CEO John E. Sztykiel bought 20,000 shares of Spartan Motors stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $4.73 per share, with a total value of $94,600.00. Following the acquisition, the chief executive officer now directly owns 591,615 shares of the company’s stock, valued at approximately $2,798,339. The transaction was disclosed in a filing with the SEC, which is available at this link.
Separately, analysts at Global Hunter Securities upgraded shares of Spartan Motors from a “neutral” rating to an “accumulate” rating in a research note on Wednesday, August 6th. They now have a $5.50 price target on the stock.
Spartan Motors (NASDAQ:SPAR) opened at 4.95 on Monday. Spartan Motors has a 1-year low of $4.26 and a 1-year high of $7.18. The stock’s 50-day moving average is $4. and its 200-day moving average is $5.11. The company’s market cap is $169.7 million.
Spartan Motors (NASDAQ:SPAR) last released its earnings data on Tuesday, August 5th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.05) by $0.06. The company had revenue of $115.80 million for the quarter, compared to the consensus estimate of $124.12 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts expect that Spartan Motors will post $0.06 EPS 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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