Seaport Global Securities reiterated their buy rating on shares of Spartan Motors Inc (NASDAQ:SPAR) in a research report released on Thursday. The brokerage currently has a $10.00 price objective on the stock.
Several other equities analysts have also commented on the stock. Roth Capital initiated coverage on shares of Spartan Motors in a report on Wednesday, January 25th. They issued a buy rating and a $12.00 target price on the stock. Zacks Investment Research lowered shares of Spartan Motors from a buy rating to a hold rating in a report on Wednesday, March 1st.
Spartan Motors (NASDAQ:SPAR) remained flat at $7.95 during mid-day trading on Thursday. 103,183 shares of the stock were exchanged. Spartan Motors has a one year low of $4.76 and a one year high of $10.50. The stock has a 50-day moving average of $7.39 and a 200 day moving average of $8.38. The stock has a market cap of $273.36 million, a PE ratio of 31.80 and a beta of 1.12.
Spartan Motors (NASDAQ:SPAR) last released its earnings results on Thursday, February 23rd. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. Spartan Motors had a negative net margin of 0.30% and a positive return on equity of 3.85%. The firm had revenue of $145.85 million for the quarter, compared to analyst estimates of $138.40 million. During the same period last year, the firm earned ($0.28) EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that Spartan Motors will post $0.35 earnings per share for the current year.
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In other Spartan Motors news, insider John A. Forbes sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $6.65, for a total transaction of $53,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daryl M. Adams bought 54,000 shares of Spartan Motors stock in a transaction on Thursday, March 9th. The shares were acquired at an average cost of $6.55 per share, for a total transaction of $353,700.00. Following the completion of the acquisition, the insider now directly owns 344,497 shares in the company, valued at $2,256,455.35. The disclosure for this purchase can be found here. Insiders have purchased a total of 61,450 shares of company stock worth $404,316 over the last ninety days. 4.59% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Tudor Investment Corp Et Al raised its stake in Spartan Motors by 1.5% in the fourth quarter. Tudor Investment Corp Et Al now owns 12,226 shares of the company’s stock worth $113,000 after buying an additional 183 shares during the last quarter. ETRADE Capital Management LLC acquired a new stake in Spartan Motors during the third quarter worth $196,000. Eagle Global Advisors LLC acquired a new stake in Spartan Motors during the third quarter worth $209,000. Highbridge Capital Management LLC acquired a new stake in Spartan Motors during the fourth quarter worth $246,000. Finally, Exchange Capital Management Inc. raised its stake in Spartan Motors by 10.0% in the fourth quarter. Exchange Capital Management Inc. now owns 27,500 shares of the company’s stock worth $254,000 after buying an additional 2,500 shares during the last quarter. 67.30% of the stock is currently owned by hedge funds and other institutional investors.
Spartan Motors Company Profile
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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