Sparton Corp. (SPA) Cut to “Market Perform” at CJS Securities
CJS Securities lowered shares of Sparton Corp. (NYSE:SPA) from an outperform rating to a market perform rating in a research note published on Tuesday morning. The firm currently has $24.00 target price on the stock.
A number of other equities analysts also recently weighed in on SPA. B. Riley restated a neutral rating and issued a $15.00 target price on shares of Sparton Corp. in a research note on Friday, September 2nd. Zacks Investment Research upgraded 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 company currently has an average rating of Hold and a consensus price target of $26.75.
Shares of Sparton Corp. (NYSE:SPA) opened at 24.91 on Tuesday. The company’s market cap is $243.92 million. The firm has a 50-day moving average price of $23.18 and a 200 day moving average price of $20.60. Sparton Corp. has a 1-year low of $11.19 and a 1-year 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, beating analysts’ consensus estimates of $0.32 by $0.18. The business earned $107.10 million during the quarter. Sparton Corp. had a positive return on equity of 13.39% and a negative net margin of 9.13%. Sparton Corp.’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. On average, analysts predict that Sparton Corp. will post $1.53 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL boosted its stake in Sparton Corp. by 0.7% in the second quarter. Gamco Investors INC. ET AL now owns 43,638 shares of the company’s stock worth $950,000 after buying an additional 300 shares during the period. ZPR Investment Management bought a new stake in Sparton Corp. during the first quarter worth approximately $763,000. Beddow Capital Management Inc. boosted its stake in Sparton Corp. by 10.2% in the first quarter. Beddow Capital Management Inc. now owns 628,715 shares of the company’s stock worth $11,311,000 after buying an additional 58,135 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Sparton Corp. by 4.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 133,139 shares of the company’s stock worth $2,395,000 after buying an additional 5,584 shares during the period. Finally, Kennedy Capital Management Inc. boosted its stake in Sparton Corp. by 3.0% in the first quarter. Kennedy Capital Management Inc. now owns 399,038 shares of the company’s stock worth $7,179,000 after buying an additional 11,521 shares during the period. 67.37% of the stock is currently owned by institutional investors.
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).
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