Spartan Motors, Inc. (SPAR) Receives $16.67 Average PT from Brokerages
Spartan Motors, Inc. (NASDAQ:SPAR) has been given a consensus rating of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $16.67.
Several research firms have recently issued reports on SPAR. Zacks Investment Research raised Spartan Motors from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Friday, October 20th. TheStreet raised Spartan Motors from a “c+” rating to a “b” rating in a research note on Thursday, November 2nd. Roth Capital raised their price objective on Spartan Motors from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, October 17th. Craig Hallum set a $20.00 price objective on Spartan Motors and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, BidaskClub lowered Spartan Motors from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd.
Several hedge funds and other institutional investors have recently modified their holdings of SPAR. Ameriprise Financial Inc. raised its holdings in shares of Spartan Motors by 501.6% in the second quarter. Ameriprise Financial Inc. now owns 470,789 shares of the company’s stock worth $4,166,000 after buying an additional 392,528 shares during the period. Kennedy Capital Management Inc. raised its holdings in shares of Spartan Motors by 215.1% in the second quarter. Kennedy Capital Management Inc. now owns 558,231 shares of the company’s stock worth $4,940,000 after buying an additional 381,045 shares during the period. AQR Capital Management LLC raised its holdings in shares of Spartan Motors by 248.3% in the first quarter. AQR Capital Management LLC now owns 427,651 shares of the company’s stock worth $3,421,000 after buying an additional 304,854 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Spartan Motors by 665.1% in the third quarter. Russell Investments Group Ltd. now owns 307,650 shares of the company’s stock worth $3,400,000 after buying an additional 267,441 shares during the period. Finally, EAM Investors LLC purchased a new stake in shares of Spartan Motors in the third quarter worth approximately $2,260,000. Hedge funds and other institutional investors own 66.64% of the company’s stock.
Shares of Spartan Motors (NASDAQ:SPAR) traded down $0.10 during trading on Tuesday, reaching $14.45. The company had a trading volume of 80,485 shares, compared to its average volume of 221,992. Spartan Motors has a 52 week low of $6.30 and a 52 week high of $17.20. The company has a market capitalization of $496.71, a price-to-earnings ratio of 39.31, a PEG ratio of 2.30 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 1.70.
Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). Spartan Motors had a net margin of 2.15% and a return on equity of 8.04%. The firm had revenue of $189.22 million for the quarter, compared to the consensus estimate of $185.30 million. During the same period in the previous year, the company posted $0.10 earnings per share. Spartan Motors’s quarterly revenue was up 27.3% on a year-over-year basis. sell-side analysts predict that Spartan Motors will post 0.41 earnings per share for the current year.
The business also recently disclosed a Semi-Annual dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a $0.05 dividend. This represents a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, November 14th. Spartan Motors’s payout ratio is 24.39%.
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About Spartan Motors
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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