SP Plus Corp (SP) Given $42.00 Consensus Price Target by Analysts

Shares of SP Plus Corp (NASDAQ:SP) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus target price of $42.00 for the company and are predicting that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also given SP Plus an industry rank of 68 out of 265 based on the ratings given to its competitors.

A number of brokerages have weighed in on SP. BidaskClub upgraded SP Plus from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Zacks Investment Research lowered SP Plus from a “buy” rating to a “hold” rating in a research note on Friday, January 5th.

Shares of SP Plus (NASDAQ SP) traded down $0.35 during mid-day trading on Friday, hitting $35.05. The stock had a trading volume of 41,152 shares, compared to its average volume of 125,311. SP Plus has a one year low of $27.70 and a one year high of $41.70. The firm has a market capitalization of $827.64, a price-to-earnings ratio of 18.13, a PEG ratio of 1.98 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.50.

In related news, EVP Gerard M. Klaisle sold 7,500 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.15, for a total transaction of $286,125.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO G Marc Baumann sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $38.00, for a total value of $38,000.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its stake in shares of SP Plus by 4.0% in the fourth quarter. Wells Fargo & Company MN now owns 196,544 shares of the business services provider’s stock worth $7,291,000 after purchasing an additional 7,517 shares during the last quarter. First Trust Advisors LP raised its stake in shares of SP Plus by 13.0% in the fourth quarter. First Trust Advisors LP now owns 20,199 shares of the business services provider’s stock worth $749,000 after purchasing an additional 2,331 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of SP Plus in the fourth quarter worth approximately $289,000. WCM Investment Management CA raised its stake in shares of SP Plus by 164.2% in the fourth quarter. WCM Investment Management CA now owns 365,543 shares of the business services provider’s stock worth $13,562,000 after purchasing an additional 227,174 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of SP Plus by 49.5% in the fourth quarter. Comerica Bank now owns 71,887 shares of the business services provider’s stock valued at $2,908,000 after acquiring an additional 23,811 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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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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