Analysts at Sidoti initiated coverage on shares of Spartan Motors (NASDAQ:SPAR) in a report released on Friday, The Fly reports. The firm set a “buy” rating on the stock.
A number of other research firms have also commented on SPAR. Zacks Investment Research raised shares of Spartan Motors from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Friday, October 20th. TheStreet upgraded Spartan Motors from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Roth Capital upped their target price on Spartan Motors from $12.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Craig Hallum set a $20.00 target price on Spartan Motors and gave the company a “buy” rating in a report on Friday, October 13th. Finally, BidaskClub downgraded Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $17.00.
Spartan Motors (SPAR) traded up $0.25 during mid-day trading on Friday, reaching $15.95. 461,500 shares of the company’s stock were exchanged, compared to its average volume of 226,361. The company has a quick ratio of 0.95, a current ratio of 1.70 and a debt-to-equity ratio of 0.14. Spartan Motors has a 52 week low of $6.30 and a 52 week high of $17.20. The stock has a market capitalization of $554.63, a price-to-earnings ratio of 43.33, a PEG ratio of 2.56 and a beta of 1.23.
Institutional investors and hedge funds have recently modified their holdings of the company. ClariVest Asset Management LLC acquired a new position in shares of Spartan Motors in the 1st quarter valued at about $101,000. Tudor Investment Corp Et Al increased its holdings in Spartan Motors by 1.5% in the fourth quarter. Tudor Investment Corp Et Al now owns 12,226 shares of the company’s stock worth $113,000 after buying an additional 183 shares during the last quarter. Airain ltd acquired a new position in Spartan Motors in the first quarter worth approximately $114,000. Smith Asset Management Group LP acquired a new position in Spartan Motors in the second quarter worth approximately $122,000. Finally, Eqis Capital Management Inc. increased its holdings in Spartan Motors by 46.7% in the first quarter. Eqis Capital Management Inc. now owns 15,358 shares of the company’s stock worth $123,000 after buying an additional 4,888 shares during the last quarter. Institutional investors own 66.31% 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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