Spartan Motors Inc (NASDAQ:SPAR) has been given an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation. Spartan Motors’ rating score has improved by 40.1% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus price target of $11.67 for the company and are expecting that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also given Spartan Motors an industry rank of 36 out of 265 based on the ratings given to related companies.
Several research firms have weighed in on SPAR. TheStreet raised shares of Spartan Motors from a “c” rating to a “b-” rating in a research note on Monday, May 15th. Zacks Investment Research downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Seaport Global Securities reissued a “buy” rating and issued a $10.00 price target on shares of Spartan Motors in a research note on Thursday, April 6th. Finally, Roth Capital set a $12.00 price target on shares of Spartan Motors and gave the stock a “buy” rating in a research note on Saturday, February 25th.
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In other news, Director Richard R. Current acquired 5,141 shares of the stock in a transaction dated Wednesday, May 10th. The stock was purchased at an average cost of $9.00 per share, with a total value of $46,269.00. Following the completion of the purchase, the director now owns 90,000 shares in the company, valued at approximately $810,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Frederick J. Sohm acquired 5,000 shares of the stock in a transaction dated Monday, May 8th. The shares were purchased at an average cost of $8.94 per share, with a total value of $44,700.00. Following the completion of the purchase, the chief financial officer now owns 157,327 shares of the company’s stock, valued at approximately $1,406,503.38. The disclosure for this purchase can be found here. Corporate insiders own 3.72% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. ClariVest Asset Management LLC purchased a new position in shares of Spartan Motors during the first quarter valued at approximately $101,000. Tudor Investment Corp Et Al increased its position in shares of Spartan Motors by 1.5% in the fourth quarter. Tudor Investment Corp Et Al now owns 12,226 shares of the company’s stock valued at $113,000 after buying an additional 183 shares during the period. Airain ltd purchased a new position in shares of Spartan Motors during the first quarter valued at approximately $114,000. Eqis Capital Management Inc. increased its position in shares of Spartan Motors by 46.7% in the first quarter. Eqis Capital Management Inc. now owns 15,358 shares of the company’s stock valued at $123,000 after buying an additional 4,888 shares during the period. Finally, TFS Capital LLC purchased a new position in shares of Spartan Motors during the first quarter valued at approximately $123,000. 66.33% of the stock is owned by hedge funds and other institutional investors.
Shares of Spartan Motors (SPAR) traded down 0.58% during mid-day trading on Monday, reaching $8.50. The company’s stock had a trading volume of 201,387 shares. The firm has a market cap of $298.58 million, a price-to-earnings ratio of 42.29 and a beta of 1.18. The company’s 50-day moving average is $8.70 and its 200 day moving average is $8.32. Spartan Motors has a 12 month low of $5.52 and a 12 month high of $10.50.
Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $167 million during the quarter, compared to the consensus estimate of $149.90 million. Spartan Motors had a negative net margin of 0.66% and a negative return on equity of 2.88%. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 earnings per share. On average, equities analysts anticipate that Spartan Motors will post $0.40 EPS for the current year.
The company also recently disclosed a semiannual dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 15th were paid a dividend of $0.05 per share. This represents a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, May 11th. Spartan Motors’s dividend payout ratio (DPR) is 47.62%.
Spartan Motors Company Profile
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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