Spartan Motors (SPAR) Research Coverage Started at Sidoti

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.

Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). Spartan Motors had a net margin of 2.15% and a return on equity of 8.04%. The firm had revenue of $189.22 million for the quarter, compared to analysts’ expectations of $185.30 million. During the same period in the prior year, the company posted $0.10 earnings per share. Spartan Motors’s quarterly revenue was up 27.3% compared to the same quarter last year. analysts forecast that Spartan Motors will post 0.41 EPS for the current year.

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.

The Fly

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