Spartan Motors (NASDAQ:SPAR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “

SPAR has been the subject of several other reports. BidaskClub downgraded Spartan Motors from a “buy” rating to a “hold” rating in a research note on Friday. Craig Hallum set a $20.00 price objective on Spartan Motors and gave the stock a “buy” rating in a research note on Friday, October 13th. Roth Capital increased their price objective on Spartan Motors from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. ValuEngine downgraded Spartan Motors from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, TheStreet raised Spartan Motors from a “c+” rating to a “b” rating in a research note on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $17.00.

Shares of Spartan Motors (NASDAQ:SPAR) opened at $15.25 on Friday. The company has a market capitalization of $533.57, a P/E ratio of 37.20, a PEG ratio of 1.88 and a beta of 1.21. Spartan Motors has a 52 week low of $6.30 and a 52 week high of $18.10. The company has a quick ratio of 0.95, a current ratio of 1.70 and a debt-to-equity ratio of 0.14.

Spartan Motors (NASDAQ:SPAR) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). The company had revenue of $189.22 million during the quarter, compared to analysts’ expectations of $185.30 million. Spartan Motors had a return on equity of 8.04% and a net margin of 2.15%. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. equities research analysts predict that Spartan Motors will post 0.41 EPS for the current year.

In related news, insider John W. Slawson sold 21,191 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $15.42, for a total transaction of $326,765.22. Following the completion of the sale, the insider now directly owns 111,165 shares of the company’s stock, valued at $1,714,164.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.72% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SPAR. Voya Investment Management LLC increased its position in shares of Spartan Motors by 18.9% during the second quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock valued at $170,000 after acquiring an additional 3,049 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Spartan Motors during the second quarter valued at approximately $208,000. Royal Bank of Canada increased its position in shares of Spartan Motors by 213.5% during the second quarter. Royal Bank of Canada now owns 27,755 shares of the company’s stock valued at $245,000 after acquiring an additional 18,903 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Spartan Motors by 15.5% during the second quarter. The Manufacturers Life Insurance Company now owns 30,895 shares of the company’s stock valued at $273,000 after acquiring an additional 4,145 shares during the last quarter. Finally, Monarch Partners Asset Management LLC bought a new position in Spartan Motors during the third quarter valued at $313,000. 66.23% of the stock is owned by institutional investors.

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Spartan Motors Company Profile

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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