SP Plus (NASDAQ:SP) Now Covered by StockNews.com

StockNews.com started coverage on shares of SP Plus (NASDAQ:SP) in a research report issued on Wednesday. The firm set a “hold” rating on the business services provider’s stock.

Separately, TheStreet lowered SP Plus from a “b” rating to a “c+” rating in a research report on Tuesday, February 27th.

SP Plus Price Performance

SP Plus stock opened at $51.50 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.34. The stock has a market cap of $1.02 billion, a P/E ratio of 33.88 and a beta of 1.22. The company has a 50-day moving average price of $51.62 and a 200 day moving average price of $51.32. SP Plus has a 12-month low of $33.89 and a 12-month high of $52.56.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.25). SP Plus had a return on equity of 22.21% and a net margin of 1.68%. The firm had revenue of $217.20 million for the quarter, compared to analyst estimates of $235.44 million. Sell-side analysts anticipate that SP Plus will post 3.26 earnings per share for the current year.

Institutional Investors Weigh In On SP Plus

Several large investors have recently added to or reduced their stakes in SP. Alpine Associates Management Inc. purchased a new position in shares of SP Plus in the 4th quarter valued at about $51,204,000. Goldman Sachs Group Inc. raised its position in shares of SP Plus by 348.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 373,833 shares of the business services provider’s stock worth $19,159,000 after acquiring an additional 290,403 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in SP Plus by 3.1% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 309,703 shares of the business services provider’s stock worth $16,173,000 after purchasing an additional 9,400 shares during the last quarter. Westchester Capital Management LLC acquired a new position in SP Plus in the fourth quarter valued at approximately $15,226,000. Finally, Rock Point Advisors LLC increased its stake in SP Plus by 2.6% in the third quarter. Rock Point Advisors LLC now owns 265,658 shares of the business services provider’s stock valued at $9,590,000 after purchasing an additional 6,624 shares during the last quarter. 93.98% of the stock is owned by hedge funds and other institutional investors.

SP Plus Company Profile

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.