Shares of Spartan Motors, Inc. (NASDAQ:SPAR) have received a consensus rating of “Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $16.67.
Several research firms recently issued reports on SPAR. Zacks Investment Research upgraded Spartan Motors from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Friday, October 20th. ValuEngine cut Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday. Sidoti began coverage on Spartan Motors in a report on Friday. They issued a “buy” rating for the company. TheStreet upgraded Spartan Motors from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Finally, Roth Capital increased their price objective on Spartan Motors from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th.
Spartan Motors (SPAR) opened at $16.15 on Friday. The company has a current ratio of 1.70, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. Spartan Motors has a 1 year low of $6.30 and a 1 year high of $17.20. The stock has a market capitalization of $566.92, a P/E ratio of 43.33, a P/E/G ratio of 2.56 and a beta of 1.23.
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a $0.05 dividend. This represents a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, November 14th. Spartan Motors’s dividend payout ratio (DPR) is currently 24.39%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC lifted its holdings in Spartan Motors by 18.9% in the 2nd quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock worth $170,000 after buying an additional 3,049 shares during the period. American International Group Inc. lifted its stake in shares of Spartan Motors by 7.0% in the 1st quarter. American International Group Inc. now owns 20,470 shares of the company’s stock valued at $164,000 after purchasing an additional 1,346 shares during the period. Alliancebernstein L.P. purchased a new position in shares of Spartan Motors in the 2nd quarter valued at approximately $208,000. Metropolitan Life Insurance Co. NY lifted its stake in shares of Spartan Motors by 12.2% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 25,563 shares of the company’s stock valued at $205,000 after purchasing an additional 2,776 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Spartan Motors by 213.5% in the 2nd quarter. Royal Bank of Canada now owns 27,755 shares of the company’s stock valued at $245,000 after purchasing an additional 18,903 shares during the period. Institutional investors and hedge funds 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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