Spartan Motors, Inc. (SPAR) Expected to Post Quarterly Sales of $167.83 Million
Equities analysts expect that Spartan Motors, Inc. (NASDAQ:SPAR) will post sales of $167.83 million for the current quarter, according to Zacks. Three analysts have issued estimates for Spartan Motors’ earnings. The highest sales estimate is $168.50 million and the lowest is $167.00 million. Spartan Motors posted sales of $162.54 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.3%. The firm is expected to report its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Spartan Motors will report full year sales of $167.83 million for the current year, with estimates ranging from $674.80 million to $678.08 million. For the next fiscal year, analysts anticipate that the firm will post sales of $692.43 million per share, with estimates ranging from $685.00 million to $701.10 million. Zacks’ sales averages are an average based on a survey of analysts that cover Spartan Motors.
Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Spartan Motors had a net margin of 1.12% and a return on equity of 8.19%. The company had revenue of $167 million for the quarter, compared to the consensus estimate of $149.90 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year.
Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Seaport Global Securities reissued a “buy” rating and issued a $10.00 target price on shares of Spartan Motors in a research report on Thursday, April 6th. Finally, TheStreet raised shares of Spartan Motors from a “c” rating to a “b-” rating in a research report on Monday, May 15th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Spartan Motors has a consensus rating of “Buy” and a consensus price target of $10.58.
In other news, CFO Frederick J. Sohm bought 5,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were acquired at an average cost of $8.94 per share, with a total value of $44,700.00. Following the completion of the transaction, the chief financial officer now directly owns 157,327 shares in the company, valued at approximately $1,406,503.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard R. Current bought 5,141 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was purchased at an average cost of $9.00 per share, for a total transaction of $46,269.00. Following the completion of the transaction, the director now owns 90,000 shares of the company’s stock, valued at $810,000. The disclosure for this purchase can be found here. Company insiders own 3.72% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp Et Al increased its position in Spartan Motors by 1.5% in the fourth quarter. Tudor Investment Corp Et Al now owns 12,226 shares of the company’s stock valued at $113,000 after buying an additional 183 shares during the period. ClariVest Asset Management LLC purchased a new position in Spartan Motors during the first quarter valued at $101,000. Airain ltd purchased a new position in Spartan Motors during the first quarter valued at $114,000. TFS Capital LLC purchased a new position in Spartan Motors during the first quarter valued at $123,000. Finally, Eqis Capital Management Inc. boosted its stake in Spartan Motors by 46.7% in the first quarter. Eqis Capital Management Inc. now owns 15,358 shares of the company’s stock valued at $123,000 after buying an additional 4,888 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Spartan Motors (NASDAQ SPAR) traded up 0.58% during mid-day trading on Friday, hitting $8.65. 93,503 shares of the company’s stock traded hands. The stock has a market cap of $303.85 million, a P/E ratio of 43.03 and a beta of 1.11. The stock has a 50 day moving average price of $8.66 and a 200-day moving average price of $8.30. Spartan Motors has a 1-year low of $6.16 and a 1-year high of $10.50.
The company also recently announced a semiannual dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 15th were given a $0.05 dividend. This represents a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, May 11th. Spartan Motors’s dividend payout ratio (DPR) is currently 47.62%.
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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