Spartan Motors (SPAR) Downgraded by BidaskClub

BidaskClub cut shares of Spartan Motors (NASDAQ:SPAR) from a buy rating to a hold rating in a research note released on Friday, BidAskClub reports.

SPAR traded down $0.21 during trading hours on Friday, hitting $8.85. The company’s stock had a trading volume of 94,838 shares, compared to its average volume of 118,588. Spartan Motors has a 12 month low of $6.70 and a 12 month high of $16.92. The stock has a market capitalization of $320.28 million, a PE ratio of 18.44 and a beta of 1.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.14 and a current ratio of 1.69.

Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Spartan Motors had a net margin of 1.39% and a return on equity of 8.21%. The company had revenue of $234.00 million for the quarter, compared to analysts’ expectations of $204.90 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. Spartan Motors’s quarterly revenue was up 35.3% on a year-over-year basis. As a group, research analysts forecast that Spartan Motors will post 0.61 earnings per share for the current year.

The firm also recently declared a semiannual dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 17th will be given a $0.05 dividend. This represents a yield of 1.05%. The ex-dividend date of this dividend is Thursday, May 16th. Spartan Motors’s dividend payout ratio is presently 20.83%.

In related news, insider Daryl M. Adams sold 12,500 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $9.51, for a total value of $118,875.00. Following the sale, the insider now owns 677,175 shares in the company, valued at $6,439,934.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.22% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. increased its position in Spartan Motors by 17.0% in the fourth quarter. Citigroup Inc. now owns 10,989 shares of the company’s stock worth $79,000 after purchasing an additional 1,593 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Spartan Motors by 8.4% during the first quarter. The Manufacturers Life Insurance Company now owns 24,029 shares of the company’s stock valued at $213,000 after acquiring an additional 1,871 shares during the last quarter. Swiss National Bank increased its position in Spartan Motors by 7.2% during the first quarter. Swiss National Bank now owns 60,900 shares of the company’s stock valued at $538,000 after acquiring an additional 4,100 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Spartan Motors by 7.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 80,035 shares of the company’s stock valued at $707,000 after acquiring an additional 5,590 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Spartan Motors by 54,830.8% during the first quarter. BNP Paribas Arbitrage SA now owns 7,141 shares of the company’s stock valued at $63,000 after acquiring an additional 7,128 shares during the last quarter. Institutional investors own 67.65% of the company’s stock.

Spartan Motors Company Profile

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty 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.

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