Spartan Motors Inc (SPAR) to Issue Semi-Annual Dividend of $0.05 on December 16th

Spartan Motors Inc (NASDAQ:SPAR) announced a Semi-Annual dividend on Monday, November 4th, Zacks reports. Investors of record on Thursday, November 14th will be paid a dividend of 0.05 per share on Monday, December 16th. The ex-dividend date is Wednesday, November 13th.

Spartan Motors stock traded down $0.25 during midday trading on Wednesday, reaching $17.72. The stock had a trading volume of 214,765 shares, compared to its average volume of 182,803. The firm’s fifty day simple moving average is $14.74 and its 200-day simple moving average is $11.66. Spartan Motors has a 1-year low of $6.97 and a 1-year high of $19.31. The stock has a market capitalization of $652.03 million, a P/E ratio of 36.92 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.19 and a current ratio of 1.72.

Spartan Motors (NASDAQ:SPAR) last announced its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.08. Spartan Motors had a return on equity of 11.81% and a net margin of 1.70%. The business had revenue of $288.95 million for the quarter, compared to analyst estimates of $231.49 million. During the same quarter last year, the firm earned $0.17 EPS. Spartan Motors’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Spartan Motors will post 0.89 earnings per share for the current fiscal year.

In other Spartan Motors news, CEO Daryl M. Adams sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $18.23, for a total value of $227,875.00. Following the completion of the transaction, the chief executive officer now directly owns 602,175 shares in the company, valued at $10,977,650.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 37,500 shares of company stock valued at $547,500. Corporate insiders own 3.78% of the company’s stock.

A number of research firms have weighed in on SPAR. Sidoti raised their price target on Spartan Motors from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Craig Hallum raised their price target on Spartan Motors from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Zacks Investment Research upgraded Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research note on Tuesday. TheStreet upgraded Spartan Motors from a “c+” rating to a “b-” rating in a research note on Friday, October 18th. Finally, BidaskClub upgraded Spartan Motors from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $20.33.

Spartan Motors Company Profile

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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Dividend History for Spartan Motors (NASDAQ:SPAR)

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