Spartan Motors Inc. (SPAR) Reaches New 52-Week High at $8.24
Spartan Motors Inc. (NASDAQ:SPAR) shares reached a new 52-week high during 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 research analysts recently commented on the stock. Craig Hallum assumed coverage on shares of Spartan Motors in a research note on Tuesday. They issued a “buy” rating on the stock. Zacks Investment Research raised shares of Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a research note on Saturday, May 7th. Finally, TheStreet raised shares of Spartan Motors from a “sell” rating to a “hold” rating in a research note on Monday, April 18th.
The company has a 50-day moving average of $6.60 and a 200-day moving average of $4.86. The company’s market cap is $285.86 million.
Spartan Motors (NASDAQ:SPAR) last announced its earnings results on Wednesday, May 4th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.07. During the same period last year, the firm earned ($0.09) EPS. The business had revenue of $133.70 million for the quarter, compared to analyst estimates of $132.40 million. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts forecast that Spartan Motors Inc. will post $0.18 earnings per share for the current fiscal year.
In other Spartan Motors news, CFO Frederick J. Sohm bought 5,000 shares of the 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 purchase, the chief financial officer now directly owns 112,550 shares in the company, valued at approximately $635,907.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A hedge fund recently raised its stake in Spartan Motors stock. Royce & Associates LLC raised its stake in Spartan Motors Inc. (NASDAQ:SPAR) by 15.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,733,062 shares of the company’s stock after buying an additional 228,525 shares during the period. Royce & Associates LLC owned about 5.06% of Spartan Motors worth $5,390,000 as of its most recent filing with the SEC.
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.