Spartan Motors Inc. (SPAR) Hits New 52-Week High at $8.24
Spartan Motors Inc. (NASDAQ:SPAR) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $8.24 and last traded at $8.00, with a volume of 899,080 shares. The stock had previously closed at $6.99.
Several brokerages have recently issued reports on SPAR. Zacks Investment Research upgraded shares of Spartan Motors from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 27th. TheStreet upgraded shares of Spartan Motors from a “sell” rating to a “hold” rating in a research note on Monday, April 18th. Finally, Craig Hallum began coverage on shares of Spartan Motors in a research note on Tuesday. They issued a “buy” rating on the stock.
The firm’s 50-day moving average price is $6.50 and its 200 day moving average price is $4.79. The company’s market cap is $275.53 million.
Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.07. The firm had revenue of $133.70 million for the quarter, compared to analyst estimates of $132.40 million. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. Analysts expect that Spartan Motors Inc. will post $0.18 EPS for the current year.
In related news, CFO Frederick J. Sohm bought 5,000 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $5.65 per share, with a total value of $28,250.00. Following the completion of the transaction, the chief financial officer now directly owns 112,550 shares of the company’s stock, valued at approximately $635,907.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently raised its stake in Spartan Motors stock. Dimensional Fund Advisors LP increased its position in shares of Spartan Motors Inc. (NASDAQ:SPAR) by 1.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,297,714 shares of the company’s stock after buying an additional 42,234 shares during the period. Dimensional Fund Advisors LP owned approximately 6.70% of Spartan Motors worth $7,146,000 as of its most recent SEC filing.
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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