Shares of SP Plus Corporation (NASDAQ:SP) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Analysts have set a twelve-month consensus price objective of $37.00 for the company and are predicting that the company will post $0.41 EPS for the current quarter, according to Zacks. Zacks has also given SP Plus Corporation an industry rank of 97 out of 265 based on the ratings given to its competitors.

SP has been the topic of a number of analyst reports. ValuEngine upgraded SP Plus Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 9th. BidaskClub upgraded SP Plus Corporation from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research downgraded SP Plus Corporation from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 6th.

In other news, major shareholder Cpc Rep L.L.C. Kohlberg sold 2,625,415 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $29.20, for a total value of $76,662,118.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert S. Roath sold 70,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $34.77, for a total value of $2,433,900.00. Following the completion of the sale, the director now directly owns 36,936 shares of the company’s stock, valued at approximately $1,284,264.72. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of SP. Bernzott Capital Advisors boosted its stake in SP Plus Corporation by 4.7% in the second quarter. Bernzott Capital Advisors now owns 945,720 shares of the business services provider’s stock worth $28,892,000 after buying an additional 42,825 shares during the last quarter. Vanguard Group Inc. boosted its stake in SP Plus Corporation by 2.1% in the first quarter. Vanguard Group Inc. now owns 770,768 shares of the business services provider’s stock worth $26,014,000 after buying an additional 16,143 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in SP Plus Corporation by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 767,223 shares of the business services provider’s stock worth $25,894,000 after buying an additional 32,493 shares during the last quarter. Investment Counselors of Maryland LLC boosted its stake in SP Plus Corporation by 11.7% in the second quarter. Investment Counselors of Maryland LLC now owns 712,112 shares of the business services provider’s stock worth $21,755,000 after buying an additional 74,441 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in SP Plus Corporation by 18.7% in the second quarter. Wedge Capital Management L L P NC now owns 623,290 shares of the business services provider’s stock worth $19,042,000 after buying an additional 98,127 shares during the last quarter. 74.75% of the stock is owned by hedge funds and other institutional investors.

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Shares of SP Plus Corporation (NASDAQ:SP) opened at 35.55 on Friday. The company has a market capitalization of $789.28 million, a P/E ratio of 20.64 and a beta of 1.01. SP Plus Corporation has a 12-month low of $22.60 and a 12-month high of $38.55. The firm has a 50-day moving average price of $32.08 and a 200 day moving average price of $31.37.

SP Plus Corporation (NASDAQ:SP) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.11. SP Plus Corporation had a return on equity of 13.82% and a net margin of 2.36%. The business had revenue of $415.40 million for the quarter, compared to the consensus estimate of $223.35 million. On average, equities research analysts predict that SP Plus Corporation will post $1.71 earnings per share for the current year.

About SP Plus Corporation

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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