SP Plus Corporation (NASDAQ:SP) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. ValuEngine raised SP Plus Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research raised SP Plus Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Friday, August 4th.

Shares of SP Plus Corporation (SP) traded down $1.90 during trading on Friday, reaching $36.45. The company’s stock had a trading volume of 197,409 shares, compared to its average volume of 123,437. The stock has a market cap of $862.54, a P/E ratio of 20.93, a PEG ratio of 2.28 and a beta of 1.01. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51.

SP Plus Corporation (NASDAQ:SP) last announced its earnings results on Wednesday, November 1st. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The firm had revenue of $392.70 million during the quarter, compared to analysts’ expectations of $228.10 million. SP Plus Corporation had a return on equity of 14.63% and a net margin of 2.64%. analysts predict that SP Plus Corporation will post 1.68 earnings per share for the current fiscal year.

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In other news, major shareholder Walter S. Woltosz sold 18,500 shares of the stock in a transaction that occurred on Saturday, October 28th. The stock was sold at an average price of $16.37, for a total value of $302,845.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert S. Roath sold 70,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $34.77, for a total value of $2,433,900.00. Following the completion of the sale, the director now directly owns 36,936 shares of the company’s stock, valued at $1,284,264.72. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SP. Russell Investments Group Ltd. raised its stake in shares of SP Plus Corporation by 180.4% in the first quarter. Russell Investments Group Ltd. now owns 9,982 shares of the business services provider’s stock valued at $337,000 after purchasing an additional 6,422 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of SP Plus Corporation by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 74,048 shares of the business services provider’s stock valued at $2,499,000 after purchasing an additional 1,389 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of SP Plus Corporation in the first quarter valued at $400,000. American International Group Inc. raised its stake in shares of SP Plus Corporation by 7.1% in the first quarter. American International Group Inc. now owns 10,639 shares of the business services provider’s stock valued at $359,000 after purchasing an additional 703 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of SP Plus Corporation by 6.4% in the first quarter. Teachers Advisors LLC now owns 29,478 shares of the business services provider’s stock valued at $995,000 after purchasing an additional 1,768 shares in the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.

SP Plus Corporation Company Profile

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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