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.

Spartan Motors (NASDAQ:SPAR) last released its earnings results on Thursday, May 2nd. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Spartan Motors had a net margin of 1.39% and a return on equity of 8.21%. The firm had revenue of $234.00 million during the quarter, compared to analyst estimates of $204.90 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. As a group, equities research analysts predict that Spartan Motors will post 0.61 earnings per share for the current fiscal year.

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.

Featured Story: What are earnings reports?

The Fly

Receive News & Ratings for Spartan Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spartan Motors and related companies with MarketBeat.com's FREE daily email newsletter.