Spartan Motors Inc. (SPAR) Downgraded by Zacks Investment Research to “Hold”
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. “
Separately, Craig Hallum began coverage on Spartan Motors in a research note on Tuesday, July 26th. They issued a buy rating on the stock.
Spartan Motors (NASDAQ:SPAR) traded down 0.63% during midday trading on Thursday, hitting $9.43. The stock had a trading volume of 109,408 shares. Spartan Motors has a 12-month low of $2.61 and a 12-month high of $10.50. The company has a 50-day moving average price of $9.50 and a 200-day moving average price of $7.01. The company’s market cap is $324.68 million.
Spartan Motors (NASDAQ:SPAR) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.11. The business had revenue of $162.50 million for the quarter, compared to analyst estimates of $152.65 million. Spartan Motors had a positive return on equity of 1.49% and a negative net margin of 1.80%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. Equities analysts anticipate that Spartan Motors will post $0.32 EPS for the current year.
In related news, Director Kenneth Kaczmarek sold 21,017 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $9.12, for a total transaction of $191,675.04. Following the sale, the director now directly owns 105,124 shares in the company, valued at approximately $958,730.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.59% of the company’s stock.
Several large investors have recently made changes to their positions in SPAR. Pinnacle Holdings LLC increased its stake in shares of Spartan Motors by 2.2% in the second quarter. Pinnacle Holdings LLC now owns 172,439 shares of the company’s stock valued at $1,079,000 after buying an additional 3,649 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of Spartan Motors by 19.4% in the second quarter. Suntrust Banks Inc. now owns 40,613 shares of the company’s stock valued at $253,000 after buying an additional 6,585 shares during the last quarter. BlackRock Advisors LLC increased its stake in shares of Spartan Motors by 138.8% in the second quarter. BlackRock Advisors LLC now owns 18,845 shares of the company’s stock valued at $118,000 after buying an additional 10,953 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Spartan Motors by 180.8% in the second quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock valued at $134,000 after buying an additional 13,743 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Spartan Motors during the second quarter valued at approximately $103,000. Institutional investors and hedge funds own 65.77% of the company’s stock.
Spartan Motors Company Profile
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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