Zacks Investment Research Downgrades Spartan Motors, Inc. (SPAR) to Hold
Spartan Motors, Inc. (NASDAQ:SPAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
According to Zacks, “Spartan is a leading designer, engineer and manufacturer of custom heavy-duty chassis. The Company’s chassis consist of a frame assembly, engine, transmission, electrical systems, running gear (wheels, tires, axles, suspension and brakes) and, for some applications, a cab. The Company’s customers are original equipment manufacturers (OEMs) who complete their vehicle product by mounting the body or apparatus on a Spartan chassis. “
SPAR has been the topic of several other reports. Craig Hallum set a $20.00 target price on Spartan Motors and gave the stock a “buy” rating in a report on Friday, October 13th. Roth Capital set a $12.00 target price on Spartan Motors and gave the stock a “buy” rating in a report on Tuesday, August 1st. BidaskClub downgraded Spartan Motors from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Finally, TheStreet downgraded Spartan Motors from a “b-” rating to a “c+” rating in a report on Thursday, August 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $17.00.
Shares of Spartan Motors (SPAR) opened at $15.30 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.70 and a debt-to-equity ratio of 0.14. The firm has a market cap of $535.32, a price-to-earnings ratio of 42.36, a P/E/G ratio of 2.48 and a beta of 1.23.
Spartan Motors (NASDAQ:SPAR) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 2.15% and a return on equity of 8.04%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. equities research analysts predict that Spartan Motors will post 0.41 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of SPAR. Ameriprise Financial Inc. raised its position in Spartan Motors by 501.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 470,789 shares of the company’s stock worth $4,166,000 after purchasing an additional 392,528 shares during the last quarter. Kennedy Capital Management Inc. raised its position in Spartan Motors by 215.1% in the 2nd quarter. Kennedy Capital Management Inc. now owns 558,231 shares of the company’s stock worth $4,940,000 after purchasing an additional 381,045 shares during the last quarter. AQR Capital Management LLC raised its position in Spartan Motors by 248.3% in the 1st quarter. AQR Capital Management LLC now owns 427,651 shares of the company’s stock worth $3,421,000 after purchasing an additional 304,854 shares during the last quarter. First Trust Advisors LP bought a new position in Spartan Motors in the 3rd quarter worth approximately $1,378,000. Finally, Marshall Wace North America L.P. raised its position in Spartan Motors by 623.6% in the 2nd quarter. Marshall Wace North America L.P. now owns 131,183 shares of the company’s stock worth $1,181,000 after purchasing an additional 113,053 shares during the last quarter. Hedge funds and other institutional investors own 66.66% 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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