Sparton Corporation (NYSE:SPA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “SPARTON CORP. ‘s continuing operations are principally in one line of business, the development and manufacture of electronic parts and assemblies. SPARTON CORP.’s products and services include microprocessor-based systems, transducers, printed circuit boards and assemblies, sensors and electronic and electromechanical contract manufacturing for the telecommunications, medical, electronics and other industries. “

Other equities analysts have also issued research reports about the company. CJS Securities lowered Sparton Corporation from an “outperform” rating to a “market perform” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, September 20th. B. Riley reissued a “neutral” rating and set a $20.00 price objective on shares of Sparton Corporation in a research note on Sunday, November 13th. Five investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $22.00.

Shares of Sparton Corporation (NYSE:SPA) opened at 21.48 on Wednesday. Sparton Corporation has a 1-year low of $11.19 and a 1-year high of $26.43. The firm has a 50-day moving average price of $23.72 and a 200-day moving average price of $23.42. The stock’s market cap is $210.33 million.

Sparton Corporation (NYSE:SPA) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.11. The company had revenue of $100.40 million for the quarter, compared to analyst estimates of $100.62 million. Sparton Corporation had a positive return on equity of 12.77% and a negative net margin of 9.82%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. Equities analysts forecast that Sparton Corporation will post $1.21 EPS for the current year.

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Several institutional investors have recently made changes to their positions in SPA. Credit Suisse AG acquired a new position in shares of Sparton Corporation during the third quarter valued at approximately $489,000. Highbridge Capital Management LLC acquired a new position in shares of Sparton Corporation during the third quarter valued at approximately $236,000. The Manufacturers Life Insurance Company acquired a new position in shares of Sparton Corporation during the third quarter valued at approximately $172,000. Two Sigma Advisers LP acquired a new position in shares of Sparton Corporation during the third quarter valued at approximately $362,000. Finally, Citadel Advisors LLC acquired a new position in shares of Sparton Corporation during the third quarter valued at approximately $309,000. 66.46% of the stock is currently owned by institutional investors and hedge funds.

Sparton Corporation Company Profile

Sparton Corporation is a provider of design, development and manufacturing services for electromechanical devices, as well as engineered products complementary to the same electromechanical value stream. The Company operates through two segments: Manufacturing & Design Services (MDS) and Engineered Components & Products (ECP).

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