Zacks: SP Plus Corp (SP) Given Consensus Rating of “Strong Buy” by Brokerages

Share on StockTwits

Shares of SP Plus Corp (NASDAQ:SP) have been assigned an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus target price of $45.50 for the company and are expecting that the company will post $0.48 EPS for the current quarter, according to Zacks. Zacks has also given SP Plus an industry rank of 66 out of 257 based on the ratings given to its competitors.

Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of SP Plus from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. BidaskClub raised shares of SP Plus from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Barrington Research raised their target price on shares of SP Plus from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, August 6th. Sidoti decreased their target price on shares of SP Plus from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Finally, ValuEngine cut shares of SP Plus from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th.

NASDAQ SP opened at $31.36 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. SP Plus has a 12-month low of $30.49 and a 12-month high of $41.70. The company has a market capitalization of $712.00 million, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Wednesday, October 31st. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. SP Plus had a net margin of 3.50% and a return on equity of 14.51%. The company had revenue of $362.10 million for the quarter, compared to the consensus estimate of $190.74 million. On average, analysts predict that SP Plus will post 2.23 EPS for the current fiscal year.

In other SP Plus news, CEO G Marc Baumann sold 1,000 shares of SP Plus stock in a transaction on Monday, October 1st. The shares were sold at an average price of $36.50, for a total transaction of $36,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Ramsey Quantitative Systems boosted its position in shares of SP Plus by 102.5% in the third quarter. Ramsey Quantitative Systems now owns 4,539 shares of the business services provider’s stock valued at $166,000 after acquiring an additional 2,297 shares during the period. Amica Retiree Medical Trust bought a new stake in shares of SP Plus in the third quarter valued at about $217,000. Metropolitan Life Insurance Co. NY boosted its position in shares of SP Plus by 30.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,462 shares of the business services provider’s stock valued at $278,000 after acquiring an additional 1,744 shares during the period. We Are One Seven LLC acquired a new position in SP Plus in the third quarter valued at about $285,000. Finally, Atria Investments LLC raised its stake in SP Plus by 26.0% in the second quarter. Atria Investments LLC now owns 9,804 shares of the business services provider’s stock valued at $365,000 after purchasing an additional 2,023 shares in the last quarter. 96.61% of the stock is owned by institutional investors.

About SP Plus

SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.

See Also: Initial Public Offering (IPO)

Get a free copy of the Zacks research report on SP Plus (SP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SP Plus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SP Plus and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply