Spartan Motors Inc. (SPAR) Reaches New 12-Month High at $8.81
Spartan Motors Inc. (NASDAQ:SPAR) reached a new 52-week high on Monday . The company traded as high as $8.81 and last traded at $8.61, with a volume of 208,152 shares trading hands. The stock had previously closed at $8.49.
A number of research firms have recently weighed in on SPAR. Zacks Investment Research upgraded shares of Spartan Motors from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 27th. TheStreet upgraded shares of Spartan Motors from a “sell” rating to a “hold” rating in a research report on Monday, April 18th. Finally, Craig Hallum began coverage on shares of Spartan Motors in a research report on Tuesday, July 26th. They issued a “buy” rating for the company.
The company’s 50-day moving average is $6.73 and its 200 day moving average is $4.92. The stock’s market capitalization is $297.23 million.
Spartan Motors (NASDAQ:SPAR) last released its earnings results on Wednesday, May 4th. The company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.07. The company had revenue of $133.70 million for the quarter, compared to the consensus estimate of $132.40 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Analysts anticipate that Spartan Motors Inc. will post $0.19 EPS for the current year.
In related news, CFO Frederick J. Sohm bought 5,000 shares of Spartan Motors stock in a transaction dated Tuesday, May 10th. The stock was 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 of the company’s stock, valued at $635,907.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
A hedge fund recently raised its stake in Spartan Motors stock. Dimensional Fund Advisors LP increased its position in shares of Spartan Motors Inc. (NASDAQ:SPAR) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,297,714 shares of the company’s stock after buying an additional 42,234 shares during the period. Dimensional Fund Advisors LP owned approximately 6.70% of Spartan Motors worth $7,146,000 at the end of the most recent quarter.
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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