Zacks Investment Research lowered shares of Spartan Motors, Inc. (NASDAQ:SPAR) from a buy rating to a hold rating in a research note published on Friday.

According to Zacks, “Spartan is a leading designer, engineer and manufacturer of custom heavy-duty chassis. The Company’s chassis consist of a frame assembly, engine, transmission, electrical systems, running gear (wheels, tires, axles, suspension and brakes) and, for some applications, a cab. The Company’s customers are original equipment manufacturers (OEMs) who complete their vehicle product by mounting the body or apparatus on a Spartan chassis. “

Several other research analysts have also recently weighed in on the company. TheStreet raised Spartan Motors from a c rating to a b- rating in a research note on Monday, May 15th. BidaskClub cut Spartan Motors from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. Finally, Roth Capital set a $12.00 target price on Spartan Motors and gave the company a buy rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Spartan Motors has an average rating of Buy and a consensus price target of $10.58.

Spartan Motors (SPAR) opened at 8.90 on Friday. Spartan Motors has a 52-week low of $6.30 and a 52-week high of $10.50. The firm’s 50-day moving average is $8.90 and its 200-day moving average is $8.28. The firm has a market capitalization of $312.33 million, a PE ratio of 83.18 and a beta of 1.11.

Spartan Motors (NASDAQ:SPAR) last announced its earnings results on Thursday, August 3rd. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Spartan Motors had a return on equity of 5.57% and a net margin of 0.59%. The business had revenue of $169.70 million during the quarter, compared to analysts’ expectations of $167.83 million. During the same quarter last year, the business posted $0.19 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts anticipate that Spartan Motors will post $0.50 earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its position in Spartan Motors by 501.6% in the second quarter. Ameriprise Financial Inc. now owns 470,789 shares of the company’s stock worth $4,166,000 after buying an additional 392,528 shares during the period. Kennedy Capital Management Inc. raised its position in Spartan Motors by 215.1% in the second quarter. Kennedy Capital Management Inc. now owns 558,231 shares of the company’s stock worth $4,940,000 after buying an additional 381,045 shares during the period. AQR Capital Management LLC raised its position in Spartan Motors by 248.3% in the first quarter. AQR Capital Management LLC now owns 427,651 shares of the company’s stock worth $3,421,000 after buying an additional 304,854 shares during the period. Heartland Advisors Inc. raised its position in Spartan Motors by 40.0% in the first quarter. Heartland Advisors Inc. now owns 700,000 shares of the company’s stock worth $5,600,000 after buying an additional 200,000 shares during the period. Finally, Oxford Asset Management bought a new position in Spartan Motors during the first quarter worth $1,555,000. Institutional investors and hedge funds own 66.81% of the company’s stock.

About Spartan Motors

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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