Spartan Motors, Inc. (SPAR) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Spartan Motors, Inc. (NASDAQ:SPAR) have earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $14.00.
Several research analysts have recently weighed in on the stock. Craig Hallum increased their price objective on shares of Spartan Motors to $20.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. TheStreet lowered shares of Spartan Motors from a “b-” rating to a “c+” rating in a report on Thursday, August 24th. Finally, Roth Capital set a $12.00 price objective on shares of Spartan Motors and gave the stock a “buy” rating in a report on Tuesday, August 1st.
Spartan Motors (NASDAQ SPAR) traded up 7.48% during midday trading on Friday, reaching $15.80. 534,411 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $10.52 and its 200-day moving average is $9.06. The stock has a market capitalization of $554.47 million, a price-to-earnings ratio of 147.66 and a beta of 1.16. Spartan Motors has a 12-month low of $6.30 and a 12-month high of $16.25.
Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The business had revenue of $169.70 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. On average, equities analysts forecast that Spartan Motors will post $0.50 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. raised its holdings in Spartan Motors by 16.4% in the second quarter. Eqis Capital Management Inc. now owns 17,871 shares of the company’s stock valued at $158,000 after buying an additional 2,513 shares during the period. Marshall Wace North America L.P. purchased a new position in Spartan Motors in the first quarter valued at approximately $145,000. MARSHALL WACE ASIA Ltd purchased a new position in Spartan Motors in the first quarter valued at approximately $145,000. Voya Investment Management LLC raised its holdings in Spartan Motors by 18.9% in the second quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock valued at $170,000 after buying an additional 3,049 shares during the period. Finally, American International Group Inc. raised its holdings in Spartan Motors by 7.0% in the first quarter. American International Group Inc. now owns 20,470 shares of the company’s stock valued at $164,000 after buying an additional 1,346 shares during the period. Institutional investors and hedge funds own 66.78% of the company’s stock.
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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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