BidaskClub cut shares of Spartan Motors (NASDAQ:SPAR) from a buy rating to a hold rating in a report released on Thursday morning, BidAskClub reports.

Several other brokerages have also recently weighed in on SPAR. Roth Capital reaffirmed a buy rating on shares of Spartan Motors in a report on Friday, May 24th. ValuEngine raised Spartan Motors from a sell rating to a hold rating in a report on Wednesday, July 17th. Zacks Investment Research cut Spartan Motors from a buy rating to a hold rating in a report on Thursday, July 25th. Finally, Craig Hallum lifted their price objective on Spartan Motors from $15.00 to $20.00 and gave the company a buy rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $15.00.

Shares of NASDAQ SPAR opened at $11.91 on Thursday. The stock has a market capitalization of $414.32 million, a PE ratio of 25.50 and a beta of 1.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.13. The business has a fifty day moving average price of $11.57 and a two-hundred day moving average price of $9.65. Spartan Motors has a fifty-two week low of $6.70 and a fifty-two week high of $16.00.

Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The company had revenue of $247.94 million during the quarter, compared to analyst estimates of $235.60 million. Spartan Motors had a net margin of 1.27% and a return on equity of 8.65%. On average, equities analysts expect that Spartan Motors will post 0.74 EPS for the current year.

In other news, CEO Daryl M. Adams sold 12,500 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $13.23, for a total transaction of $165,375.00. Following the completion of the transaction, the chief executive officer now owns 639,675 shares of the company’s stock, valued at approximately $8,462,900.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 37,500 shares of company stock valued at $421,750 in the last three months. 4.22% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of SPAR. Centaurus Financial Inc. raised its holdings in shares of Spartan Motors by 12,223.0% during the 2nd quarter. Centaurus Financial Inc. now owns 1,008,266 shares of the company’s stock worth $11,051,000 after buying an additional 1,000,084 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Spartan Motors by 82.1% during the 2nd quarter. Wells Fargo & Company MN now owns 767,326 shares of the company’s stock worth $8,410,000 after buying an additional 346,055 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Spartan Motors by 195.8% during the 4th quarter. Millennium Management LLC now owns 428,369 shares of the company’s stock worth $3,097,000 after buying an additional 283,529 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Spartan Motors by 788.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 318,459 shares of the company’s stock worth $3,491,000 after buying an additional 282,629 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Spartan Motors by 29.6% during the 2nd quarter. Renaissance Technologies LLC now owns 682,748 shares of the company’s stock worth $7,483,000 after buying an additional 155,900 shares in the last quarter. 66.52% of the stock is owned by institutional investors.

About Spartan Motors

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.

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