SP Plus (NASDAQ:SP) had its price objective reduced by stock analysts at Sidoti from $52.00 to $40.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Sidoti’s price target would indicate a potential upside of 70.21% from the company’s current price.

A number of other brokerages also recently weighed in on SP. Barrington Research started coverage on SP Plus in a report on Wednesday, February 19th. They issued a “buy” rating and a $51.00 target price on the stock. ValuEngine downgraded SP Plus from a “hold” rating to a “sell” rating in a report on Friday, March 20th. BidaskClub downgraded SP Plus from a “hold” rating to a “sell” rating in a report on Wednesday, March 18th. Finally, Zacks Investment Research upgraded SP Plus from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. SP Plus presently has an average rating of “Hold” and an average target price of $44.67.

SP stock traded up $3.36 during mid-day trading on Thursday, reaching $23.50. 274,628 shares of the stock traded hands, compared to its average volume of 191,114. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.77. SP Plus has a 52-week low of $14.44 and a 52-week high of $47.33. The company has a market cap of $449.82 million, a P/E ratio of 10.68 and a beta of 1.05. The stock’s fifty day moving average is $35.19 and its 200-day moving average is $39.65.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Wednesday, February 19th. The business services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). SP Plus had a net margin of 2.93% and a return on equity of 16.01%. The firm had revenue of $231.90 million for the quarter, compared to analysts’ expectations of $234.50 million. Equities research analysts expect that SP Plus will post 3.09 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust acquired a new position in SP Plus in the fourth quarter worth approximately $38,000. Emerald Advisers LLC acquired a new position in SP Plus during the fourth quarter valued at approximately $52,000. Great West Life Assurance Co. Can acquired a new position in SP Plus during the fourth quarter valued at approximately $64,000. Bank of Montreal Can grew its holdings in SP Plus by 40.7% during the fourth quarter. Bank of Montreal Can now owns 2,972 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 859 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in SP Plus during the fourth quarter valued at approximately $184,000. Hedge funds and other institutional investors own 93.38% of the company’s stock.

SP Plus Company Profile

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.

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