Zacks Investment Research lowered shares of Spartan Motors (NASDAQ:SPAR) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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 equities research analysts also recently issued reports on the stock. Roth Capital dropped their price target on shares of Spartan Motors from $20.00 to $12.00 and set a buy rating on the stock in a research note on Thursday, November 1st. Craig Hallum set a $12.00 price target on shares of Spartan Motors and gave the stock a buy rating in a research note on Wednesday, October 31st. ValuEngine downgraded shares of Spartan Motors from a sell rating to a strong sell rating in a research note on Thursday, November 1st. Finally, BidaskClub downgraded shares of Spartan Motors from a sell rating to a strong sell rating in a research note on Thursday, July 26th. Three research analysts have rated the stock with a sell rating and four have given a buy rating to the company. Spartan Motors presently has an average rating of Hold and a consensus target price of $14.33.

Spartan Motors stock traded up $0.11 during midday trading on Tuesday, hitting $8.42. 298,396 shares of the stock were exchanged, compared to its average volume of 515,678. Spartan Motors has a 1 year low of $6.70 and a 1 year high of $19.45. The company has a market capitalization of $306.02 million, a price-to-earnings ratio of 19.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.74 and a quick ratio of 1.22.

Spartan Motors (NASDAQ:SPAR) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.08). Spartan Motors had a return on equity of 9.77% and a net margin of 2.04%. The firm had revenue of $226.18 million for the quarter, compared to analysts’ expectations of $227.27 million. During the same period last year, the firm earned $0.21 EPS. The business’s quarterly revenue was up 19.5% on a year-over-year basis. Analysts forecast that Spartan Motors will post 0.43 earnings per share for the current fiscal year.

The company also recently declared a Semi-Annual dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 14th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 13th. Spartan Motors’s dividend payout ratio (DPR) is 23.26%.

In related news, CEO Daryl M. Adams bought 25,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was bought at an average price of $7.31 per share, with a total value of $182,750.00. Following the transaction, the chief executive officer now owns 642,536 shares of the company’s stock, valued at $4,696,938.16. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen K. Guillaume sold 4,144 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $15.23, for a total transaction of $63,113.12. Following the completion of the sale, the insider now directly owns 63,429 shares of the company’s stock, valued at approximately $966,023.67. The disclosure for this sale can be found here. Insiders have purchased a total of 60,000 shares of company stock worth $439,200 in the last ninety days. 4.22% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in shares of Spartan Motors by 44.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 99,610 shares of the company’s stock worth $1,505,000 after purchasing an additional 30,765 shares during the last quarter. Strs Ohio increased its position in shares of Spartan Motors by 9.9% in the 2nd quarter. Strs Ohio now owns 51,100 shares of the company’s stock worth $771,000 after purchasing an additional 4,600 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in shares of Spartan Motors in the 3rd quarter worth about $1,475,000. Macquarie Group Ltd. increased its position in shares of Spartan Motors by 181.9% in the 2nd quarter. Macquarie Group Ltd. now owns 38,903 shares of the company’s stock worth $587,000 after purchasing an additional 25,103 shares during the last quarter. Finally, Gradient Investments LLC bought a new stake in shares of Spartan Motors in the 3rd quarter worth about $1,031,000. 69.13% of the stock is owned by institutional investors.

Spartan Motors Company Profile

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, and sells heavy-duty and purpose-built specialty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.

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