SP Plus (SP) Lifted to “Hold” at BidaskClub

SP Plus (NASDAQ:SP) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday.

A number of other equities analysts also recently weighed in on SP. Zacks Investment Research raised shares of 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. ValuEngine cut shares of SP Plus from a “buy” rating to a “hold” rating in a report on Monday, October 2nd.

SP Plus (NASDAQ:SP) traded up $0.70 during midday trading on Friday, hitting $41.35. 190,012 shares of the stock were exchanged, compared to its average volume of 113,939. SP Plus has a 1-year low of $27.05 and a 1-year high of $41.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $931.24, a P/E ratio of 21.54, a PEG ratio of 2.22 and a beta of 1.00.

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

In related news, major shareholder Walter S. Woltosz sold 18,500 shares of the company’s stock in a transaction on Saturday, October 28th. The shares were sold at an average price of $16.37, for a total value of $302,845.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Alpha Windward LLC bought a new stake in SP Plus during the fourth quarter valued at about $501,000. Schwab Charles Investment Management Inc. boosted its holdings in SP Plus by 1.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 157,076 shares of the business services provider’s stock valued at $5,828,000 after acquiring an additional 1,607 shares during the period. Atlantic Trust Group LLC bought a new stake in SP Plus during the third quarter valued at about $1,191,000. Public Employees Retirement System of Ohio bought a new stake in SP Plus during the third quarter valued at about $337,000. Finally, GSA Capital Partners LLP boosted its holdings in SP Plus by 30.1% during the third quarter. GSA Capital Partners LLP now owns 20,507 shares of the business services provider’s stock valued at $810,000 after acquiring an additional 4,747 shares during the period. Institutional investors own 96.53% of the company’s stock.

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SP Plus Company Profile

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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