Spartan Motors (NASDAQ:SPAR) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other brokerages also recently issued reports on SPAR. Zacks Investment Research upgraded Spartan Motors from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a research report on Saturday, August 26th. Craig Hallum set a $20.00 target price on Spartan Motors and gave the stock a “buy” rating in a research report on Friday, October 13th. TheStreet downgraded Spartan Motors from a “b-” rating to a “c+” rating in a research report on Thursday, August 24th. Roth Capital boosted their target price on Spartan Motors from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Finally, BidaskClub downgraded Spartan Motors from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.00.

Shares of Spartan Motors (NASDAQ:SPAR) traded up $0.20 during midday trading on Friday, reaching $16.15. The company’s stock had a trading volume of 314,971 shares, compared to its average volume of 275,439. Spartan Motors has a fifty-two week low of $6.30 and a fifty-two week high of $17.20. The company has a current ratio of 1.70, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market cap of $559.90, a P/E ratio of 44.31, a P/E/G ratio of 2.61 and a beta of 1.22.

Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Wednesday, November 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). Spartan Motors had a return on equity of 8.04% and a net margin of 2.15%. The company had revenue of $189.22 million during the quarter, compared to the consensus estimate of $185.30 million. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. equities research analysts predict that Spartan Motors will post 0.41 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in SPAR. TIAA CREF Investment Management LLC increased its stake in Spartan Motors by 27.8% in the 1st quarter. TIAA CREF Investment Management LLC now owns 123,021 shares of the company’s stock worth $984,000 after purchasing an additional 26,780 shares during the period. Vanguard Group Inc. increased its stake in Spartan Motors by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,384,711 shares of the company’s stock worth $11,078,000 after purchasing an additional 11,102 shares during the period. Geode Capital Management LLC increased its stake in shares of Spartan Motors by 13.9% during the first quarter. Geode Capital Management LLC now owns 283,420 shares of the company’s stock valued at $2,267,000 after buying an additional 34,527 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Spartan Motors by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,890,436 shares of the company’s stock valued at $23,123,000 after buying an additional 78,188 shares during the period. Finally, Morgan Stanley increased its stake in shares of Spartan Motors by 11.9% during the first quarter. Morgan Stanley now owns 197,236 shares of the company’s stock valued at $1,577,000 after buying an additional 20,913 shares during the period. 66.31% of the stock is currently owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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