TheStreet downgraded shares of Spartan Motors, Inc. (NASDAQ:SPAR) from a b- rating to a c+ rating in a research note published on Thursday.

Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Spartan Motors from a hold rating to a buy rating and set a $9.75 price objective on the stock in a research note on Saturday. BidaskClub cut shares of Spartan Motors from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. Finally, Roth Capital set a $12.00 price objective on shares of Spartan Motors and gave the stock a buy rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $10.58.

Shares of Spartan Motors (NASDAQ:SPAR) opened at 8.90 on Thursday. The stock has a market capitalization of $312.33 million, a P/E ratio of 83.18 and a beta of 1.11. The firm’s 50-day moving average price is $8.90 and its 200 day moving average price is $8.28. Spartan Motors has a 1-year low of $6.30 and a 1-year high of $10.50.

Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Spartan Motors had a net margin of 0.59% and a return on equity of 5.57%. The firm had revenue of $169.70 million during the quarter, compared to analyst estimates of $167.83 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts expect that Spartan Motors will post $0.50 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in SPAR. American International Group Inc. boosted its stake in Spartan Motors by 7.0% in the first quarter. American International Group Inc. now owns 20,470 shares of the company’s stock valued at $164,000 after buying an additional 1,346 shares during the period. Eagle Global Advisors LLC boosted its stake in Spartan Motors by 4.1% in the first quarter. Eagle Global Advisors LLC now owns 44,333 shares of the company’s stock valued at $355,000 after buying an additional 1,750 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in Spartan Motors by 0.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 256,550 shares of the company’s stock valued at $2,270,000 after buying an additional 2,000 shares during the period. Exchange Capital Management Inc. boosted its stake in Spartan Motors by 9.1% in the first quarter. Exchange Capital Management Inc. now owns 30,000 shares of the company’s stock valued at $240,000 after buying an additional 2,500 shares during the period. Finally, Eqis Capital Management Inc. boosted its stake in Spartan Motors by 16.4% in the second quarter. Eqis Capital Management Inc. now owns 17,871 shares of the company’s stock valued at $158,000 after buying an additional 2,513 shares during the period. 66.81% of the stock is currently owned by institutional investors and hedge funds.

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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