Seaport Global Securities Comments on Spartan Motors, Inc.’s FY2017 Earnings (SPAR)
Spartan Motors, Inc. (NASDAQ:SPAR) – Equities research analysts at Seaport Global Securities lifted their FY2017 earnings per share (EPS) estimates for Spartan Motors in a report released on Wednesday. Seaport Global Securities analyst R. Wood now forecasts that the company will earn $0.50 per share for the year, up from their prior forecast of $0.38. Seaport Global Securities also issued estimates for Spartan Motors’ Q2 2018 earnings at $0.13 EPS.
Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The business had revenue of $169.70 million for the quarter, compared to the consensus estimate of $167.83 million. Spartan Motors had a net margin of 0.59% and a return on equity of 5.57%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share.
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Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research raised shares of Spartan Motors from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Saturday. Roth Capital set a $12.00 price target on shares of Spartan Motors and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, TheStreet raised shares of Spartan Motors from a “c” rating to a “b-” rating in a research note on Monday, May 15th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Spartan Motors presently has an average rating of “Buy” and a consensus price target of $10.67.
Spartan Motors (NASDAQ:SPAR) opened at 9.20 on Monday. Spartan Motors has a 12-month low of $6.30 and a 12-month high of $10.50. The stock has a market capitalization of $323.16 million, a P/E ratio of 85.98 and a beta of 1.11. The firm’s 50-day moving average is $8.75 and its 200 day moving average is $8.22.
Large investors have recently modified their holdings of the stock. Marshall Wace North America L.P. boosted its stake in shares of Spartan Motors by 623.6% in the second quarter. Marshall Wace North America L.P. now owns 131,183 shares of the company’s stock worth $1,181,000 after buying an additional 113,053 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Spartan Motors by 113.5% in the second quarter. Wedge Capital Management L L P NC now owns 76,000 shares of the company’s stock worth $673,000 after buying an additional 40,400 shares during the last quarter. Granite Investment Partners LLC boosted its stake in shares of Spartan Motors by 61.9% in the second quarter. Granite Investment Partners LLC now owns 234,548 shares of the company’s stock worth $2,076,000 after buying an additional 89,653 shares during the last quarter. Algert Global LLC boosted its stake in shares of Spartan Motors by 27.2% in the second quarter. Algert Global LLC now owns 95,706 shares of the company’s stock worth $847,000 after buying an additional 20,480 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Spartan Motors during the second quarter worth approximately $495,000. 65.08% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Richard R. Current purchased 5,141 shares of the stock in a transaction dated Wednesday, May 10th. The shares were acquired at an average cost of $9.00 per share, with a total value of $46,269.00. Following the purchase, the director now directly owns 90,000 shares in the company, valued at approximately $810,000. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.72% 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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