SP Plus (NASDAQ:SP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of SP Plus (NASDAQ:SP) in a research report sent to investors on Monday. The brokerage issued a hold rating on the business services provider’s stock.

Separately, TheStreet downgraded shares of SP Plus from a b rating to a c+ rating in a research report on Tuesday, February 27th.

SP Plus Stock Performance

Shares of NASDAQ SP opened at $51.10 on Monday. The stock’s fifty day moving average price is $51.63 and its two-hundred day moving average price is $51.28. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 32.76 and a beta of 1.22. SP Plus has a one year low of $32.78 and a one year high of $52.56. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.71 and a quick ratio of 0.71.

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 the consensus estimate of $0.85 by ($0.25). SP Plus had a return on equity of 22.49% and a net margin of 1.74%. The firm had revenue of $217.20 million for the quarter, compared to the consensus estimate of $235.44 million. On average, equities analysts forecast that SP Plus will post 3.42 EPS for the current year.

Institutional Investors Weigh In On SP Plus

Several hedge funds have recently added to or reduced their stakes in SP. Parallel Advisors LLC raised its stake in SP Plus by 868.4% during the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock valued at $28,000 after buying an additional 495 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new stake in SP Plus in the 4th quarter worth approximately $61,000. Quest Partners LLC purchased a new stake in SP Plus in the 4th quarter worth $73,000. Quantbot Technologies LP purchased a new stake in shares of SP Plus during the third quarter worth about $101,000. Finally, SG Americas Securities LLC purchased a new stake in SP Plus during the 3rd quarter valued at approximately $108,000. 93.98% of the stock is owned by institutional investors.

About SP Plus

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.