Zacks: SP Plus Corp (SP) Receives Average Recommendation of “Strong Buy” from Analysts

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

Brokerages have set a 1 year consensus price target of $42.00 for the company and are anticipating that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also assigned SP Plus an industry rank of 76 out of 265 based on the ratings given to its competitors.

A number of brokerages recently commented on SP. BidaskClub downgraded shares of SP Plus from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of SP Plus from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Saturday, November 4th.

SP Plus (NASDAQ SP) traded up $1.00 during trading on Monday, hitting $36.40. 154,400 shares of the stock traded hands, compared to its average volume of 128,153. The stock has a market capitalization of $819.75, a P/E ratio of 18.96, a P/E/G ratio of 1.96 and a beta of 1.07. 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 1-year low of $27.70 and a 1-year high of $41.70.

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

Hedge funds have recently bought and sold shares of the business. Zions Bancorporation bought a new stake in SP Plus in the third quarter worth approximately $108,000. Legal & General Group Plc grew its position in SP Plus by 5.0% in the second quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock worth $129,000 after acquiring an additional 200 shares in the last quarter. SG Americas Securities LLC bought a new stake in SP Plus in the third quarter worth approximately $141,000. California Public Employees Retirement System bought a new stake in SP Plus in the second quarter worth approximately $214,000. Finally, BlueCrest Capital Management Ltd bought a new stake in SP Plus in the second quarter worth approximately $221,000. 97.92% of the stock is owned by institutional investors.

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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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