SP Plus Corp (SP) Receives Average Recommendation of “Strong Buy” from Brokerages

SP Plus Corp (NASDAQ:SP) has received an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.

Brokers have set a 1 year consensus target price of $45.50 for the company and are expecting that the company will post $0.49 EPS for the current quarter, according to Zacks. Zacks has also given SP Plus an industry rank of 166 out of 255 based on the ratings given to its competitors.

SP has been the subject of several recent analyst reports. Barrington Research reissued a “buy” rating and issued a $43.00 price target on shares of SP Plus in a report on Friday, October 19th. BidaskClub raised shares of SP Plus from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research lowered shares of SP Plus from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Sidoti cut their price target on shares of SP Plus from $52.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 10th. Finally, ValuEngine lowered shares of SP Plus from a “hold” rating to a “sell” rating in a report on Thursday, September 27th.

Shares of NASDAQ:SP traded down $0.12 during trading on Monday, hitting $31.24. 343,341 shares of the stock traded hands, compared to its average volume of 82,981. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market cap of $726.44 million, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.41 and a beta of 1.11. SP Plus has a 52-week low of $30.49 and a 52-week high of $41.70.

SP Plus (NASDAQ:SP) last posted its earnings results on Wednesday, October 31st. The business services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The firm had revenue of $362.10 million during the quarter, compared to analyst estimates of $190.74 million. SP Plus had a net margin of 3.50% and a return on equity of 14.84%. On average, sell-side analysts anticipate that SP Plus will post 2.27 earnings per share for the current fiscal year.

In other news, CEO G Marc Baumann sold 1,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $36.50, for a total transaction of $36,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SP. Ramsey Quantitative Systems raised its holdings in SP Plus by 102.5% in the 3rd quarter. Ramsey Quantitative Systems now owns 4,539 shares of the business services provider’s stock valued at $166,000 after buying an additional 2,297 shares during the period. WINTON GROUP Ltd purchased a new stake in SP Plus during the first quarter worth about $217,000. Metropolitan Life Insurance Co. NY increased its stake in SP Plus by 30.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 7,462 shares of the business services provider’s stock worth $278,000 after purchasing an additional 1,744 shares during the period. We Are One Seven LLC purchased a new stake in SP Plus during the third quarter worth about $285,000. Finally, Atria Investments LLC increased its stake in SP Plus by 26.0% during the second quarter. Atria Investments LLC now owns 9,804 shares of the business services provider’s stock worth $365,000 after purchasing an additional 2,023 shares during the period. Hedge funds and other institutional investors own 97.39% of the company’s stock.

SP Plus Company Profile

SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.

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