SP Plus (NASDAQ:SP) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of SP Plus (NASDAQ:SP) in a research report sent to investors on Friday. 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 Price Performance

SP Plus stock traded up $0.02 during midday trading on Friday, hitting $53.99. The company’s stock had a trading volume of 594,000 shares, compared to its average volume of 225,382. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.27. SP Plus has a 12 month low of $34.17 and a 12 month high of $54.42. The company has a market capitalization of $1.07 billion, a PE ratio of 35.52 and a beta of 1.22. The stock’s 50-day moving average price is $52.13 and its 200-day moving average price is $51.59.

SP Plus (NASDAQ:SP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.06). The firm had revenue of $222.10 million during the quarter, compared to analyst estimates of $229.00 million. SP Plus had a net margin of 1.68% and a return on equity of 21.93%. Analysts anticipate that SP Plus will post 3.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SP Plus

Several institutional investors have recently modified their holdings of SP. Parallel Advisors LLC boosted its holdings in SP Plus by 868.4% in the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock valued at $28,000 after acquiring 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 purchased a new stake in shares of SP Plus in the fourth quarter valued at about $73,000. Quantbot Technologies LP purchased a new stake in SP Plus during the third quarter worth approximately $101,000. Finally, MQS Management LLC acquired a new position in SP Plus in the third quarter worth $205,000. Institutional investors own 93.98% of the company’s stock.

SP Plus Company Profile

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.