Analysts Anticipate SP Plus Corporation (SP) to Post $0.40 EPS

SP Plus Corporation (NASDAQ:SP) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Analysts have set a twelve-month consensus price target of $42.00 for the company and are predicting that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also given SP Plus an industry rank of 227 out of 265 based on the ratings given to related companies.

Several brokerages have recently commented on SP. BidaskClub raised SP Plus from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 28th. ValuEngine lowered SP Plus from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research raised SP Plus from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Saturday, November 4th.

In related news, major shareholder Walter S. Woltosz sold 18,500 shares of the company’s stock in a transaction that occurred on Saturday, October 28th. The stock was sold at an average price of $16.37, for a total value of $302,845.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of SP Plus by 45.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 31,601 shares of the business services provider’s stock worth $965,000 after purchasing an additional 9,835 shares during the period. American Century Companies Inc. lifted its stake in shares of SP Plus by 38.5% during the 3rd quarter. American Century Companies Inc. now owns 109,062 shares of the business services provider’s stock worth $4,308,000 after purchasing an additional 30,335 shares during the period. OxFORD Asset Management LLP purchased a new position in shares of SP Plus during the 2nd quarter worth $2,185,000. Vanguard Group Inc. lifted its stake in shares of SP Plus by 22.3% during the 2nd quarter. Vanguard Group Inc. now owns 942,891 shares of the business services provider’s stock worth $28,805,000 after purchasing an additional 172,123 shares during the period. Finally, Chicago Equity Partners LLC lifted its stake in shares of SP Plus by 207.0% during the 3rd quarter. Chicago Equity Partners LLC now owns 51,150 shares of the business services provider’s stock worth $2,020,000 after purchasing an additional 34,490 shares during the period. 96.57% of the stock is currently owned by institutional investors.

Shares of SP Plus (SP) opened at $38.80 on Monday. The company has a market capitalization of $873.81, a P/E ratio of 21.20, a PEG ratio of 2.28 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.82 and a current ratio of 0.82. SP Plus has a 52 week low of $27.05 and a 52 week high of $41.25.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The business had revenue of $392.70 million for the quarter, compared to analyst estimates of $228.10 million. SP Plus had a return on equity of 14.29% and a net margin of 2.64%. research analysts expect that SP Plus will post 1.7 earnings per share for the current fiscal year.

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About SP Plus

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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