Craig Hallum Reiterates $12.00 Price Target for Spartan Motors (SPAR)

Craig Hallum set a $12.00 price target on Spartan Motors (NASDAQ:SPAR) in a report published on Wednesday, The Fly reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also commented on SPAR. BidaskClub lowered Spartan Motors from a sell rating to a strong sell rating in a research report on Thursday, July 26th. ValuEngine lowered Spartan Motors from a buy rating to a hold rating in a report on Friday, August 10th. Finally, Zacks Investment Research lowered Spartan Motors from a buy rating to a hold rating in a report on Thursday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $14.33.

SPAR traded down $0.05 during trading on Wednesday, hitting $7.40. 992,116 shares of the stock were exchanged, compared to its average volume of 349,372. The firm has a market cap of $236.84 million, a price-to-earnings ratio of 13.73 and a beta of 1.32. Spartan Motors has a 1-year low of $6.70 and a 1-year high of $19.45. The company has a quick ratio of 1.28, a current ratio of 1.74 and a debt-to-equity ratio of 0.10.

Spartan Motors (NASDAQ:SPAR) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.08). The firm had revenue of $226.18 million for the quarter, compared to analyst estimates of $227.27 million. Spartan Motors had a return on equity of 9.77% and a net margin of 2.04%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. Equities analysts expect that Spartan Motors will post 0.45 EPS for the current fiscal year.

In other news, insider Stephen K. Guillaume sold 4,144 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $15.23, for a total value of $63,113.12. Following the transaction, the insider now owns 63,429 shares of the company’s stock, valued at $966,023.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Anthony Mascarenas bought 15,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was bought at an average cost of $7.35 per share, for a total transaction of $110,250.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $110,250. The disclosure for this purchase can be found here. Insiders own 4.22% of the company’s stock.

Several institutional investors have recently bought and sold shares of SPAR. Summit Creek Advisors LLC boosted its stake in shares of Spartan Motors by 88.9% in the second quarter. Summit Creek Advisors LLC now owns 600,677 shares of the company’s stock valued at $9,070,000 after buying an additional 282,723 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Spartan Motors by 50.3% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 631,730 shares of the company’s stock valued at $9,539,000 after buying an additional 211,526 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Spartan Motors in the third quarter valued at approximately $3,083,000. Kirr Marbach & Co. LLC IN boosted its stake in shares of Spartan Motors by 659.1% in the third quarter. Kirr Marbach & Co. LLC IN now owns 227,537 shares of the company’s stock valued at $3,356,000 after buying an additional 197,563 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its stake in shares of Spartan Motors by 154.5% in the second quarter. Centaurus Financial Inc. now owns 313,649 shares of the company’s stock valued at $4,736,000 after buying an additional 190,416 shares in the last quarter. Hedge funds and other institutional investors own 68.33% of the company’s stock.

About Spartan Motors

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, and sells heavy-duty and purpose-built specialty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.

Featured Story: Beta

The Fly

Receive News & Ratings for Spartan Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spartan Motors and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply