Brokerages Set Spartan Motors Inc (SPAR) Target Price at $20.00

Shares of Spartan Motors Inc (NASDAQ:SPAR) have earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $20.00.

A number of research firms have weighed in on SPAR. ValuEngine cut shares of Spartan Motors from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 8th. Zacks Investment Research cut shares of Spartan Motors from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. Finally, BidaskClub cut shares of Spartan Motors from a “hold” rating to a “sell” rating in a research report on Saturday, June 16th.

NASDAQ:SPAR traded up $0.10 during trading hours on Thursday, reaching $14.25. 99,000 shares of the company were exchanged, compared to its average volume of 250,336. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.28 and a current ratio of 1.78. The stock has a market capitalization of $512.03 million, a PE ratio of 33.02 and a beta of 0.64. Spartan Motors has a twelve month low of $8.55 and a twelve month high of $19.45.

Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. The company had revenue of $183.98 million during the quarter, compared to analysts’ expectations of $190.85 million. Spartan Motors had a net margin of 3.28% and a return on equity of 10.84%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. research analysts forecast that Spartan Motors will post 0.64 earnings per share for the current year.

In other news, CFO Frederick J. Sohm sold 16,000 shares of the stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $15.97, for a total value of $255,520.00. Following the completion of the sale, the chief financial officer now directly owns 151,755 shares in the company, valued at $2,423,527.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas Kivell sold 7,500 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $16.10, for a total transaction of $120,750.00. Following the completion of the sale, the vice president now owns 84,781 shares of the company’s stock, valued at $1,364,974.10. The disclosure for this sale can be found here. Insiders sold 59,799 shares of company stock valued at $965,492 over the last quarter. Company insiders own 4.22% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SPAR. 12th Street Asset Management Company LLC acquired a new stake in shares of Spartan Motors in the first quarter valued at about $6,949,000. Lord Abbett & CO. LLC acquired a new stake in shares of Spartan Motors in the first quarter valued at about $6,031,000. Summit Creek Advisors LLC raised its position in shares of Spartan Motors by 88.9% in the second quarter. Summit Creek Advisors LLC now owns 600,677 shares of the company’s stock valued at $9,070,000 after buying an additional 282,723 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Spartan Motors by 50.3% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 631,730 shares of the company’s stock valued at $9,539,000 after buying an additional 211,526 shares during the last quarter. Finally, Centaurus Financial Inc. raised its position in shares of Spartan Motors by 154.5% in the second quarter. Centaurus Financial Inc. now owns 313,649 shares of the company’s stock valued at $4,736,000 after buying an additional 190,416 shares during the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

Spartan Motors Company Profile

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, and sells heavy-duty and purpose-built specialty 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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