Spartan Motors, Inc. (SPAR) Rating Lowered to Hold at Zacks Investment Research
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.
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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