Brokerages expect that Spartan Motors, Inc. (NASDAQ:SPAR) will announce sales of $185.30 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Spartan Motors’ earnings. The lowest sales estimate is $177.40 million and the highest is $190.00 million. Spartan Motors posted sales of $148.66 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 24.6%. The business is scheduled to report its next earnings results before the market opens on Wednesday, November 1st.

According to Zacks, analysts expect that Spartan Motors will report full-year sales of $185.30 million for the current financial year, with estimates ranging from $690.10 million to $701.80 million. For the next financial year, analysts anticipate that the company will post sales of $788.17 million per share, with estimates ranging from $767.50 million to $804.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Spartan Motors.

Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Wednesday, November 1st. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). The company had revenue of $189.22 million for the quarter, compared to analyst estimates of $185.30 million. Spartan Motors had a return on equity of 5.57% and a net margin of 0.59%. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share.

A number of brokerages recently weighed in on SPAR. Zacks Investment Research upgraded shares of Spartan Motors from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Friday, October 20th. Roth Capital boosted their target price on shares of Spartan Motors from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. Craig Hallum set a $20.00 target price on shares of Spartan Motors and gave the stock a “buy” rating in a report on Friday, October 13th. BidaskClub downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, TheStreet downgraded shares of Spartan Motors from a “b-” rating to a “c+” rating in a report on Thursday, August 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $17.00.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Spartan Motors by 0.8% during the first quarter. Vanguard Group Inc. now owns 1,384,711 shares of the company’s stock worth $11,078,000 after buying an additional 11,102 shares during the last quarter. Morgan Stanley boosted its position in Spartan Motors by 11.9% during the first quarter. Morgan Stanley now owns 197,236 shares of the company’s stock worth $1,577,000 after purchasing an additional 20,913 shares during the period. Marshall Wace North America L.P. bought a new position in Spartan Motors during the first quarter worth $145,000. Victory Capital Management Inc. boosted its position in Spartan Motors by 10.1% during the second quarter. Victory Capital Management Inc. now owns 148,850 shares of the company’s stock worth $1,317,000 after purchasing an additional 13,655 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Spartan Motors by 202.2% during the first quarter. Wells Fargo & Company MN now owns 66,435 shares of the company’s stock worth $531,000 after purchasing an additional 44,453 shares during the period. Institutional investors and hedge funds own 66.66% of the company’s stock.

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About Spartan Motors

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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Earnings History and Estimates for Spartan Motors (NASDAQ:SPAR)

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