Spartan Motors Inc. (SPAR) Earns Buy Rating from Analysts at Craig Hallum
Investment analysts at Craig Hallum began coverage on shares of Spartan Motors Inc. (NASDAQ:SPAR) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating on the stock.
Several other brokerages have also recently commented on SPAR. Zacks Investment Research upgraded shares of Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $6.25 price objective for the company in a research note on Saturday, May 7th. TheStreet upgraded shares of Spartan Motors from a “sell” rating to a “hold” rating in a research note on Monday, April 18th.
Spartan Motors (NASDAQ:SPAR) traded down 0.21% during mid-day trading on Tuesday, hitting $9.47. 157,742 shares of the stock traded hands. Spartan Motors has a 12-month low of $2.61 and a 12-month high of $10.50. The company’s market cap is $326.06 million. The firm’s 50-day moving average is $9.50 and its 200-day moving average is $7.05.
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Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.11. Spartan Motors had a negative net margin of 1.80% and a positive return on equity of 1.49%. The firm earned $162.50 million during the quarter, compared to analysts’ expectations of $152.65 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities research analysts expect that Spartan Motors will post $0.32 EPS for the current year.
In other Spartan Motors news, Director Kenneth Kaczmarek sold 3,909 shares of Spartan Motors stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $9.08, for a total transaction of $35,493.72. Following the completion of the transaction, the director now owns 76,883 shares in the company, valued at $698,097.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.59% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Spartan Motors during the second quarter worth about $103,000. BlackRock Advisors LLC boosted its position in shares of Spartan Motors by 138.8% in the second quarter. BlackRock Advisors LLC now owns 18,845 shares of the company’s stock worth $118,000 after buying an additional 10,953 shares during the last quarter. American International Group Inc. acquired a new position in shares of Spartan Motors during the second quarter worth about $120,000. Smith Asset Management Group LP acquired a new position in shares of Spartan Motors during the second quarter worth about $122,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Spartan Motors by 34.8% in the first quarter. Goldman Sachs Group Inc. now owns 31,689 shares of the company’s stock worth $125,000 after buying an additional 8,174 shares during the last quarter. Institutional investors own 65.77% 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.
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