Spartan Motors (SPAR) Downgraded to “Buy” at BidaskClub

BidaskClub cut shares of Spartan Motors (NASDAQ:SPAR) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

Several other research analysts have also commented on SPAR. Zacks Investment Research lowered Spartan Motors from a hold rating to a sell rating in a report on Wednesday. Roth Capital lifted their price target on Spartan Motors from $12.00 to $20.00 and gave the stock a buy rating in a report on Tuesday, October 17th. TheStreet upgraded Spartan Motors from a c+ rating to a b rating in a report on Thursday, November 2nd. ValuEngine lowered Spartan Motors from a buy rating to a hold rating in a report on Friday, December 1st. Finally, Sidoti assumed coverage on Spartan Motors in a report on Friday, December 1st. They set a buy rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $17.00.

Spartan Motors (SPAR) opened at $15.75 on Friday. Spartan Motors has a fifty-two week low of $6.30 and a fifty-two week high of $18.10. The company has a current ratio of 1.70, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $552.87, a price-to-earnings ratio of 43.75, a PEG ratio of 2.59 and a beta of 1.21.

Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). Spartan Motors had a return on equity of 8.04% and a net margin of 2.15%. The company had revenue of $189.22 million for the quarter, compared to analysts’ expectations of $185.30 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm’s revenue was up 27.3% on a year-over-year basis. research analysts expect that Spartan Motors will post 0.41 earnings per share for the current year.

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a yield of 0.65%. Spartan Motors’s dividend payout ratio (DPR) is currently 24.39%.

In related news, insider John W. Slawson sold 21,191 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $15.42, for a total value of $326,765.22. Following the sale, the insider now directly owns 111,165 shares in the company, valued at approximately $1,714,164.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.72% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC raised its holdings in Spartan Motors by 18.9% in the 2nd quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock valued at $170,000 after buying an additional 3,049 shares during the period. Alliancebernstein L.P. purchased a new stake in Spartan Motors in the 2nd quarter valued at about $208,000. Royal Bank of Canada raised its holdings in Spartan Motors by 213.5% in the 2nd quarter. Royal Bank of Canada now owns 27,755 shares of the company’s stock valued at $245,000 after buying an additional 18,903 shares during the period. Monarch Partners Asset Management LLC purchased a new stake in Spartan Motors in the 3rd quarter valued at about $313,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Spartan Motors by 15.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,895 shares of the company’s stock valued at $273,000 after buying an additional 4,145 shares during the period. Hedge funds and other institutional investors own 66.23% of the company’s stock.

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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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