Spartan Motors Inc. (SPAR) Reaches New 1-Year High at $6.93
Spartan Motors Inc. (NASDAQ:SPAR) reached a new 52-week high during trading on Wednesday . The company traded as high as $6.93 and last traded at $6.88, with a volume of 1,038,728 shares changing hands. The stock had previously closed at $6.27.
SPAR has been the topic of a number of recent analyst reports. Zacks Investment Research raised Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a report on Saturday, May 7th. TheStreet raised Spartan Motors from a “sell” rating to a “hold” rating in a report on Monday, April 18th.
The stock’s market cap is $228.34 million. The stock has a 50 day moving average of $6.19 and a 200 day moving average of $4.45.
Spartan Motors (NASDAQ:SPAR) last released its earnings results on Wednesday, May 4th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.07. During the same period in the previous year, the company earned ($0.09) earnings per share. The firm earned $133.70 million during the quarter, compared to analyst estimates of $132.40 million. Spartan Motors’s revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that Spartan Motors Inc. will post $0.18 EPS for the current fiscal year.
The company also recently announced a semiannual dividend, which was paid on Thursday, June 23rd. Investors of record on Thursday, May 19th were given a $0.05 dividend. This represents a dividend yield of 1.98%. The ex-dividend date of this dividend was Tuesday, May 17th.
In other news, CFO Frederick J. Sohm bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The shares were purchased at an average cost of $5.65 per share, with a total value of $28,250.00. Following the transaction, the chief financial officer now directly owns 112,550 shares in the company, valued at $635,907.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
An institutional investor recently raised its position in Spartan Motors stock. Royce & Associates LLC boosted its stake in shares of Spartan Motors Inc. (NASDAQ:SPAR) by 15.2% during the fourth quarter, Holdings Channel reports. The fund owned 1,733,062 shares of the company’s stock after buying an additional 228,525 shares during the period. Royce & Associates LLC owned about 5.06% of Spartan Motors worth $5,390,000 as of its most recent filing with the SEC.
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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