BidaskClub Lowers SP Plus Corporation (SP) to Buy
BidaskClub downgraded shares of SP Plus Corporation (NASDAQ:SP) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.
A number of other equities analysts have also weighed in on SP. Zacks Investment Research upgraded shares of SP Plus Corporation from a hold rating to a buy rating and set a $39.00 target price for the company in a research report on Friday, August 4th. ValuEngine lowered shares of SP Plus Corporation from a buy rating to a hold rating in a research report on Tuesday, August 1st.
SP Plus Corporation (NASDAQ SP) traded up 0.81% during mid-day trading on Friday, reaching $37.20. 194,903 shares of the company’s stock were exchanged. The company has a 50-day moving average of $34.65 and a 200-day moving average of $32.35. The stock has a market cap of $825.91 million, a price-to-earnings ratio of 21.60 and a beta of 0.97. SP Plus Corporation has a 52-week low of $22.60 and a 52-week high of $38.55.
SP Plus Corporation (NASDAQ:SP) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. The firm had revenue of $415.40 million during the quarter, compared to analyst estimates of $223.35 million. SP Plus Corporation had a net margin of 2.36% and a return on equity of 13.82%. Equities research analysts anticipate that SP Plus Corporation will post $1.69 earnings per share for the current year.
In other news, Director Robert S. Roath sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $34.77, for a total value of $2,433,900.00. Following the completion of the transaction, the director now directly owns 36,936 shares in the company, valued at $1,284,264.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new stake in SP Plus Corporation during the second quarter valued at approximately $14,540,000. Laurion Capital Management LP bought a new stake in SP Plus Corporation during the second quarter valued at approximately $11,962,000. Principal Financial Group Inc. bought a new stake in SP Plus Corporation during the second quarter valued at approximately $11,150,000. FMR LLC bought a new stake in SP Plus Corporation during the second quarter valued at approximately $10,693,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in SP Plus Corporation during the second quarter valued at approximately $8,260,000. Institutional investors own 94.68% of the company’s stock.
About SP Plus Corporation
SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.
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