SP Plus (NASDAQ:SP) Research Coverage Started at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of SP Plus (NASDAQ:SP) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the business services provider’s stock.

Separately, TheStreet downgraded SP Plus from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th.

SP Plus Stock Down 0.6 %

SP stock opened at $51.67 on Friday. SP Plus has a twelve month low of $32.78 and a twelve month high of $52.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.34. The firm has a market cap of $1.02 billion, a PE ratio of 33.12 and a beta of 1.22. The business has a 50 day moving average of $51.69 and a 200 day moving average of $50.86.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.25). SP Plus had a net margin of 1.74% and a return on equity of 22.49%. The company had revenue of $217.20 million for the quarter, compared to the consensus estimate of $235.44 million. On average, research analysts forecast that SP Plus will post 3.42 EPS for the current fiscal year.

Hedge Funds Weigh In On SP Plus

A number of large investors have recently made changes to their positions in SP. Alpine Associates Management Inc. purchased a new position in SP Plus in the 4th quarter worth approximately $51,204,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of SP Plus in the fourth quarter worth $15,391,000. Westchester Capital Management LLC acquired a new position in shares of SP Plus during the fourth quarter worth $15,226,000. Goldman Sachs Group Inc. grew its stake in shares of SP Plus by 348.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 373,833 shares of the business services provider’s stock worth $19,159,000 after purchasing an additional 290,403 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of SP Plus by 2,311.1% during the fourth quarter. UBS Group AG now owns 218,640 shares of the business services provider’s stock worth $11,205,000 after purchasing an additional 209,572 shares in the last quarter. 93.98% of the stock is owned by institutional investors and hedge funds.

SP Plus Company Profile

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.