Spartan Motors (NASDAQ:SPAR) Trading Up 14.5%

Spartan Motors Inc (NASDAQ:SPAR) traded up 14.5% during mid-day trading on Monday . The stock traded as high as $12.46 and last traded at $12.31, 367,449 shares changed hands during mid-day trading. An increase of 2% from the average session volume of 359,560 shares. The stock had previously closed at $10.75.

Several equities analysts recently commented on SPAR shares. Sidoti dropped their price objective on Spartan Motors from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, March 13th. BidaskClub raised Spartan Motors from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 24th. Zacks Investment Research raised Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a report on Saturday, March 7th. Finally, ValuEngine raised Spartan Motors from a “strong sell” rating to a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $19.00.

The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.22 and a current ratio of 1.60. The company has a market capitalization of $414.35 million, a price-to-earnings ratio of -35.17 and a beta of 1.52. The stock’s 50-day moving average price is $13.88 and its 200-day moving average price is $16.07.

Spartan Motors (NASDAQ:SPAR) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.11. The firm had revenue of $178.00 million during the quarter, compared to the consensus estimate of $192.70 million. Spartan Motors had a positive return on equity of 19.05% and a negative net margin of 1.32%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. Analysts anticipate that Spartan Motors Inc will post 1.2 earnings per share for the current year.

In other news, CEO Daryl M. Adams sold 12,500 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $12.05, for a total transaction of $150,625.00. Following the completion of the sale, the chief executive officer now directly owns 558,144 shares of the company’s stock, valued at approximately $6,725,635.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.78% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Prudential Financial Inc. raised its stake in shares of Spartan Motors by 2.2% in the 4th quarter. Prudential Financial Inc. now owns 36,523 shares of the company’s stock valued at $660,000 after purchasing an additional 775 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Spartan Motors by 1.7% in the 3rd quarter. California State Teachers Retirement System now owns 53,470 shares of the company’s stock valued at $734,000 after purchasing an additional 906 shares in the last quarter. Barclays PLC raised its stake in shares of Spartan Motors by 4.2% in the 3rd quarter. Barclays PLC now owns 23,062 shares of the company’s stock valued at $317,000 after purchasing an additional 939 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Spartan Motors by 40.9% in the 4th quarter. Bank of Montreal Can now owns 4,242 shares of the company’s stock valued at $77,000 after purchasing an additional 1,232 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Spartan Motors by 2.1% in the 4th quarter. Swiss National Bank now owns 64,200 shares of the company’s stock valued at $1,161,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 70.28% of the company’s stock.

About Spartan Motors (NASDAQ:SPAR)

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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