CJS Securities downgraded shares of Sparton Corp. (NYSE:SPA) from an outperform rating to a market perform rating in a report issued on Tuesday. They currently have $24.00 price target on the stock.

A number of other equities analysts also recently issued reports on SPA. B. Riley reissued a neutral rating and issued a $15.00 price target on shares of Sparton Corp. in a research note on Friday, September 2nd. Zacks Investment Research raised shares of Sparton Corp. from a strong sell rating to a hold rating in a research note on Tuesday, July 12th. Five analysts have rated the stock with a hold rating, The stock presently has an average rating of Hold and an average price target of $26.75.

Shares of Sparton Corp. (NYSE:SPA) opened at 24.91 on Tuesday. The company has a 50 day moving average of $23.18 and a 200-day moving average of $20.60. The company’s market cap is $243.92 million. Sparton Corp. has a 12-month low of $11.19 and a 12-month high of $25.60.

Sparton Corp. (NYSE:SPA) last released its quarterly earnings results on Tuesday, September 6th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.18. Sparton Corp. had a negative net margin of 9.13% and a positive return on equity of 13.39%. The company earned $107.10 million during the quarter. During the same period in the previous year, the company earned $0.65 earnings per share. Sparton Corp.’s quarterly revenue was down 15.3% on a year-over-year basis. Equities research analysts anticipate that Sparton Corp. will post $1.53 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in SPA. Metropolitan Life Insurance Co. NY acquired a new position in shares of Sparton Corp. during the second quarter worth $167,000. Rhumbline Advisers increased its position in shares of Sparton Corp. by 13.8% in the second quarter. Rhumbline Advisers now owns 13,474 shares of the company’s stock worth $293,000 after buying an additional 1,630 shares in the last quarter. ZPR Investment Management acquired a new position in shares of Sparton Corp. during the first quarter worth $763,000. BlackRock Investment Management LLC increased its position in shares of Sparton Corp. by 10.0% in the second quarter. BlackRock Investment Management LLC now owns 40,581 shares of the company’s stock worth $883,000 after buying an additional 3,700 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Sparton Corp. by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 42,085 shares of the company’s stock worth $916,000 after buying an additional 1,086 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

About Sparton Corp.

Sparton Corporation, through its subsidiaries, provides design, development and manufacturing services for complex electromechanical devices, as well as sophisticated engineered products. The Company operates in two segments: Manufacturing & Design Services (MDS) and Engineered Components & Products (ECP).

5 Day Chart for NYSE:SPA

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