$185.30 Million in Sales Expected for Spartan Motors, Inc. (SPAR) This Quarter
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spartan Motors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spartan Motors Inc. and related companies with MarketBeat.com's FREE daily email newsletter.