SP Plus (NASDAQ:SP) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of SP Plus (NASDAQ:SP) in a research note published on Tuesday morning. The brokerage issued a hold rating on the business services provider’s stock.

Separately, TheStreet downgraded SP Plus from a b rating to a c+ rating in a research note on Tuesday, February 27th.

SP Plus Trading Up 0.0 %

NASDAQ:SP opened at $51.51 on Tuesday. The stock has a 50-day simple moving average of $51.62 and a 200-day simple moving average of $51.29. The stock has a market cap of $1.02 billion, a P/E ratio of 33.89 and a beta of 1.22. SP Plus has a 1 year low of $33.10 and a 1 year high of $52.56. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.71.

SP Plus (NASDAQ:SP) last released its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.25). SP Plus had a return on equity of 22.21% and a net margin of 1.68%. The business had revenue of $217.20 million for the quarter, compared to analyst estimates of $235.44 million. As a group, analysts anticipate that SP Plus will post 3.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SP Plus

Large investors have recently modified their holdings of the business. Parallel Advisors LLC raised its stake in shares of SP Plus by 868.4% during the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after buying an additional 495 shares in the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of SP Plus during the 4th quarter worth approximately $61,000. Quest Partners LLC acquired a new stake in shares of SP Plus in the 4th quarter worth approximately $73,000. Quantbot Technologies LP acquired a new stake in shares of SP Plus in the 3rd quarter worth approximately $101,000. Finally, SG Americas Securities LLC acquired a new stake in shares of SP Plus in the 3rd quarter worth approximately $108,000. 93.98% of the stock is owned by hedge funds and other institutional investors.

About SP Plus

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.