Spartan Motors Inc (NASDAQ:SPAR) CEO Daryl M. Adams Sells 12,500 Shares

Spartan Motors Inc (NASDAQ:SPAR) CEO Daryl M. Adams sold 12,500 shares of Spartan Motors stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.88, for a total value of $148,500.00. Following the sale, the chief executive officer now owns 627,175 shares of the company’s stock, valued at approximately $7,450,839. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

NASDAQ:SPAR traded down $0.09 during mid-day trading on Friday, reaching $11.86. The stock had a trading volume of 6,084 shares, compared to its average volume of 127,728. The firm has a 50 day moving average price of $12.14 and a two-hundred day moving average price of $9.99. The stock has a market capitalization of $415.03 million, a P/E ratio of 24.90 and a beta of 1.46. Spartan Motors Inc has a one year low of $6.70 and a one year high of $16.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.13 and a current ratio of 1.61.

Spartan Motors (NASDAQ:SPAR) last released its earnings results on Thursday, August 1st. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). Spartan Motors had a return on equity of 8.65% and a net margin of 1.27%. The firm had revenue of $247.94 million during the quarter, compared to the consensus estimate of $235.60 million. Research analysts forecast that Spartan Motors Inc will post 0.74 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Spartan Motors by 2.0% in the second quarter. BlackRock Inc. now owns 2,332,562 shares of the company’s stock valued at $25,565,000 after purchasing an additional 45,065 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Spartan Motors by 3.6% during the second quarter. Vanguard Group Inc. now owns 1,639,260 shares of the company’s stock valued at $17,966,000 after buying an additional 56,871 shares during the period. Royce & Associates LP increased its stake in shares of Spartan Motors by 1.1% during the first quarter. Royce & Associates LP now owns 1,301,945 shares of the company’s stock valued at $11,496,000 after buying an additional 14,113 shares during the period. Zuckerman Investment Group LLC increased its stake in shares of Spartan Motors by 1.4% during the second quarter. Zuckerman Investment Group LLC now owns 1,273,967 shares of the company’s stock valued at $13,963,000 after buying an additional 17,680 shares during the period. Finally, Centaurus Financial Inc. increased its stake in shares of Spartan Motors by 12,223.0% during the second quarter. Centaurus Financial Inc. now owns 1,008,266 shares of the company’s stock valued at $11,051,000 after buying an additional 1,000,084 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

A number of research firms recently weighed in on SPAR. Zacks Investment Research downgraded Spartan Motors from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Roth Capital restated a “buy” rating on shares of Spartan Motors in a research report on Friday, May 24th. ValuEngine upgraded Spartan Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Craig Hallum boosted their target price on Spartan Motors from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, BidaskClub downgraded Spartan Motors from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $15.00.

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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