Spartan Motors Inc. (SPAR) Hits New 12-Month High at $9.88
Shares of Spartan Motors Inc. (NASDAQ:SPAR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.88 and last traded at $9.88, with a volume of 128,053 shares changing hands. The stock had previously closed at $9.57.
A number of brokerages have issued reports on SPAR. Zacks Investment Research raised Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, August 10th. Craig Hallum began coverage on Spartan Motors in a research report on Tuesday, July 26th. They issued a “buy” rating on the stock.
The stock’s market cap is $335.70 million. The stock’s 50 day moving average price is $8.44 and its 200 day moving average price is $5.88.
Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.11. The company had revenue of $162.50 million for the quarter, compared to analyst estimates of $152.65 million. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, equities research analysts expect that Spartan Motors Inc. will post $0.32 EPS for the current year.
In other news, Director Kenneth Kaczmarek sold 3,909 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $9.08, for a total value of $35,493.72. Following the sale, the director now directly owns 76,883 shares in the company, valued at $698,097.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
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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