Spartan Motors Inc. (SPAR) Reaches New 52-Week High at $9.41
Spartan Motors Inc. (NASDAQ:SPAR) shares hit a new 52-week high during trading on Thursday . The company traded as high as $9.41 and last traded at $9.28, with a volume of 156,496 shares. The stock had previously closed at $9.11.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $10.00 price target for the company in a research note on Wednesday. Craig Hallum assumed coverage on shares of Spartan Motors in a research note on Tuesday, July 26th. They set a “buy” rating for the company. Finally, TheStreet upgraded shares of Spartan Motors from a “sell” rating to a “hold” rating in a research note on Monday, April 18th.
The stock’s market capitalization is $316.42 million. The stock’s 50-day moving average price is $7.53 and its 200-day moving average price is $5.34.
Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.11. The firm earned $162.50 million during the quarter, compared to the consensus estimate of $152.65 million. During the same period in the previous year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities analysts forecast that Spartan Motors Inc. will post $0.32 EPS for the current fiscal year.
In related news, Director Kenneth Kaczmarek sold 21,017 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $9.12, for a total value of $191,675.04. Following the transaction, the director now owns 105,124 shares in the company, valued at approximately $958,730.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
An institutional investor recently raised its position 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 filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.
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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