Spartan Motors Inc. (SPAR) Shares Down 9.1%
Spartan Motors Inc. (NASDAQ:SPAR) fell 9.1% on Thursday . The stock traded as low as $6.61 and last traded at $6.67, with a volume of 450,385 shares changing hands. The stock had previously closed at $7.34.
Several research firms have recently weighed in on SPAR. Zacks Investment Research upgraded Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $6.25 price objective on the stock in a research note on Saturday, May 7th. TheStreet upgraded Spartan Motors from a “sell” rating to a “hold” rating in a research note on Monday, April 18th.
The firm’s 50 day moving average is $6.17 and its 200-day moving average is $4.43. The company’s market cap is $228.34 million.
Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.07. During the same quarter in the previous year, the business posted ($0.09) EPS. The business had revenue of $133.70 million for the quarter, compared to the consensus estimate of $132.40 million. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts predict that Spartan Motors Inc. will post $0.18 earnings per share for the current year.
The firm also recently declared a semiannual dividend, which was paid on Thursday, June 23rd. Investors of record on Thursday, May 19th were issued a dividend of $0.05 per share. This represents a yield of 1.98%. The ex-dividend date was Tuesday, May 17th.
In other Spartan Motors news, CFO Frederick J. Sohm purchased 5,000 shares of Spartan Motors stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average price of $5.65 per share, for a total transaction of $28,250.00. Following the completion of the acquisition, the chief financial officer now owns 112,550 shares of the company’s stock, valued at approximately $635,907.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A hedge fund recently raised its stake in Spartan Motors stock. Royce & Associates LLC increased its stake in Spartan Motors Inc. (NASDAQ:SPAR) by 15.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,733,062 shares of the company’s stock after buying an additional 228,525 shares during the period. Royce & Associates LLC owned 5.06% of Spartan Motors worth $5,390,000 at the end of the most recent reporting period.
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.