Spartan Motors (NASDAQ:SPAR) Price Target Raised to $15.00
Spartan Motors (NASDAQ:SPAR) had its target price upped by Craig Hallum from $12.00 to $15.00 in a research report sent to investors on Tuesday, The Fly reports.
SPAR has been the subject of several other research reports. Roth Capital reiterated a buy rating on shares of Spartan Motors in a research note on Friday, May 24th. ValuEngine upgraded shares of Vistra Energy from a hold rating to a buy rating in a research note on Wednesday, July 3rd. Finally, BidaskClub upgraded shares of Zebra Technologies from a hold rating to a buy rating in a research note on Saturday, July 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $12.67.
SPAR stock opened at $12.08 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.14 and a debt-to-equity ratio of 0.20. Spartan Motors has a 1-year low of $6.70 and a 1-year high of $16.10. The company’s fifty day simple moving average is $9.83. The company has a market capitalization of $419.61 million, a price-to-earnings ratio of 25.17 and a beta of 1.55.
In other news, insider Daryl M. Adams sold 12,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $10.99, for a total transaction of $137,375.00. Following the completion of the transaction, the insider now owns 652,175 shares in the company, valued at $7,167,403.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 37,500 shares of company stock valued at $375,250. 4.22% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in Spartan Motors by 44.5% during the fourth quarter. Rhumbline Advisers now owns 46,989 shares of the company’s stock valued at $340,000 after buying an additional 14,480 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Spartan Motors by 30.7% in the 4th quarter. Bank of New York Mellon Corp now owns 238,976 shares of the company’s stock valued at $1,728,000 after purchasing an additional 56,153 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Spartan Motors by 17.0% in the 4th quarter. Citigroup Inc. now owns 10,989 shares of the company’s stock valued at $79,000 after purchasing an additional 1,593 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Spartan Motors by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 366,422 shares of the company’s stock valued at $2,649,000 after purchasing an additional 17,372 shares in the last quarter. Finally, Stone Ridge Asset Management LLC raised its holdings in shares of Spartan Motors by 25.8% in the 4th quarter. Stone Ridge Asset Management LLC now owns 83,425 shares of the company’s stock valued at $603,000 after purchasing an additional 17,092 shares in the last quarter. Institutional investors and hedge funds own 65.68% of the company’s stock.
About Spartan Motors
Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty 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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