BidaskClub upgraded shares of SP Plus Corporation (NASDAQ:SP) from a buy rating to a strong-buy rating in a research note published on Thursday morning.

A number of other equities research analysts also recently commented on SP. Zacks Investment Research raised SP Plus Corporation from a hold rating to a buy rating and set a $34.00 target price for the company in a report on Wednesday, July 5th. ValuEngine raised shares of SP Plus Corporation from a hold rating to a buy rating in a research note on Friday, June 9th.

SP Plus Corporation (NASDAQ:SP) opened at 39.50 on Thursday. The firm has a market capitalization of $876.98 million, a P/E ratio of 22.94 and a beta of 0.99. The stock’s 50 day moving average price is $36.28 and its 200 day moving average price is $32.91. SP Plus Corporation has a 52 week low of $22.60 and a 52 week high of $39.97.

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, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.11. SP Plus Corporation had a net margin of 2.36% and a return on equity of 13.82%. The business had revenue of $415.40 million for the quarter, compared to the consensus estimate of $223.35 million. On average, equities analysts expect that SP Plus Corporation will post $1.69 EPS for the current year.

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In other news, Director Robert S. Roath sold 70,000 shares of SP Plus Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $34.77, for a total transaction of $2,433,900.00. Following the completion of the sale, the director now directly owns 36,936 shares in the company, valued at approximately $1,284,264.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in SP. US Bancorp DE increased its position in shares of SP Plus Corporation by 3.1% in the second quarter. US Bancorp DE now owns 3,329 shares of the business services provider’s stock valued at $102,000 after buying an additional 100 shares in the last quarter. Legal & General Group Plc boosted its position in shares of SP Plus Corporation by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock worth $129,000 after buying an additional 200 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of SP Plus Corporation by 678.9% in the 2nd quarter. Acadian Asset Management LLC now owns 5,748 shares of the business services provider’s stock worth $176,000 after buying an additional 5,010 shares in the last quarter. California Public Employees Retirement System purchased a new stake in shares of SP Plus Corporation in the 2nd quarter worth about $214,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of SP Plus Corporation in the 2nd quarter worth about $221,000. Institutional investors and hedge funds own 94.68% of the company’s stock.

SP Plus Corporation Company Profile

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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