Zacks: SP Plus Corp (SP) Given $42.00 Average Target Price by Brokerages
SP Plus Corp (NASDAQ:SP) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Brokerages have set a twelve-month consensus price objective of $42.00 for the company and are expecting that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also given SP Plus an industry rank of 76 out of 265 based on the ratings given to related companies.
A number of analysts have commented on SP shares. BidaskClub downgraded shares of SP Plus from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th.
In other news, EVP Gerard M. Klaisle sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.15, for a total transaction of $286,125.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO G Marc Baumann sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SP. Zions Bancorporation purchased a new position in SP Plus during the third quarter valued at approximately $108,000. Legal & General Group Plc grew its position in SP Plus by 5.0% during the second quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 200 shares in the last quarter. SG Americas Securities LLC purchased a new position in SP Plus during the third quarter valued at approximately $141,000. California Public Employees Retirement System purchased a new position in SP Plus during the second quarter valued at approximately $214,000. Finally, BlueCrest Capital Management Ltd purchased a new position in SP Plus during the second quarter valued at approximately $221,000. 97.92% of the stock is currently owned by hedge funds and other institutional investors.
SP Plus Company Profile
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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