SP Plus (NASDAQ:SP) PT Raised to $51.00

SP Plus (NASDAQ:SP) had its price objective hoisted by equities research analysts at Barrington Research from $43.00 to $51.00 in a report released on Wednesday, The Fly reports. Barrington Research’s price target points to a potential upside of 11.40% from the stock’s current price. Barrington Research also issued estimates for SP Plus’ FY2019 earnings at $2.79 EPS and FY2020 earnings at $2.98 EPS.

A number of other research analysts have also weighed in on the company. BidaskClub upgraded SP Plus from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. ValuEngine upgraded SP Plus from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Zacks Investment Research upgraded SP Plus from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday.

NASDAQ:SP traded down $0.05 on Wednesday, reaching $45.78. 82,600 shares of the company’s stock traded hands, compared to its average volume of 96,487. The firm has a market cap of $1.05 billion, a PE ratio of 19.56, a P/E/G ratio of 1.67 and a beta of 0.98. The stock has a 50-day simple moving average of $39.27 and a 200-day simple moving average of $35.07. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.79. SP Plus has a 12 month low of $27.13 and a 12 month high of $47.33.

SP Plus (NASDAQ:SP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.11. The firm had revenue of $418.60 million during the quarter, compared to analyst estimates of $231.35 million. SP Plus had a return on equity of 16.39% and a net margin of 3.03%. On average, equities analysts anticipate that SP Plus will post 2.75 earnings per share for the current year.

In related news, insider Gerard M. Klaisle sold 1,250 shares of SP Plus stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $36.91, for a total value of $46,137.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO G Marc Baumann sold 3,800 shares of SP Plus stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $46.63, for a total value of $177,194.00. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Several large investors have recently made changes to their positions in the business. We Are One Seven LLC boosted its position in shares of SP Plus by 2.5% during the third quarter. We Are One Seven LLC now owns 15,605 shares of the business services provider’s stock valued at $577,000 after buying an additional 388 shares during the period. Swiss National Bank boosted its position in shares of SP Plus by 2.2% during the second quarter. Swiss National Bank now owns 42,400 shares of the business services provider’s stock valued at $1,354,000 after buying an additional 900 shares during the period. James Investment Research Inc. boosted its position in shares of SP Plus by 6.3% during the third quarter. James Investment Research Inc. now owns 18,095 shares of the business services provider’s stock valued at $670,000 after buying an additional 1,075 shares during the period. Van Hulzen Asset Management LLC boosted its position in shares of SP Plus by 9.7% during the second quarter. Van Hulzen Asset Management LLC now owns 13,471 shares of the business services provider’s stock valued at $430,000 after buying an additional 1,188 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of SP Plus by 12.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,875 shares of the business services provider’s stock valued at $379,000 after buying an additional 1,275 shares during the period. Institutional investors and hedge funds own 98.20% of the company’s stock.

SP Plus Company Profile

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.

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