SP Plus (SP) Lifted to Hold at ValuEngine

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ValuEngine upgraded shares of SP Plus (NASDAQ:SP) from a sell rating to a hold rating in a research note published on Thursday morning.

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of SP Plus from a hold rating to a sell rating in a report on Friday, September 14th. Zacks Investment Research downgraded shares of SP Plus from a buy rating to a hold rating in a research note on Tuesday, October 9th. Barrington Research reissued a buy rating and issued a $43.00 price objective on shares of SP Plus in a research note on Friday, October 19th. Finally, Sidoti dropped their price objective 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. SP Plus has an average rating of Hold and a consensus target price of $44.00.

NASDAQ SP opened at $33.25 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $722.01 million, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.23 and a beta of 0.99. SP Plus has a 12-month low of $27.13 and a 12-month high of $41.70.

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. The firm had revenue of $362.10 million during the quarter, compared to the consensus estimate of $190.74 million. SP Plus had a net margin of 3.50% and a return on equity of 14.51%. On average, research analysts forecast that SP Plus will post 2.22 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Ramsey Quantitative Systems increased its position in shares of SP Plus by 102.5% during the third quarter. Ramsey Quantitative Systems now owns 4,539 shares of the business services provider’s stock worth $166,000 after buying an additional 2,297 shares during the period. Eagle Boston Investment Management Inc. increased its position in shares of SP Plus by 9.3% during the third quarter. Eagle Boston Investment Management Inc. now owns 352,765 shares of the business services provider’s stock worth $12,875,000 after buying an additional 30,067 shares during the period. Dimensional Fund Advisors LP increased its position in shares of SP Plus by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,185,125 shares of the business services provider’s stock worth $43,257,000 after buying an additional 18,895 shares during the period. Investment Counselors of Maryland LLC increased its position in shares of SP Plus by 5.3% during the third quarter. Investment Counselors of Maryland LLC now owns 483,935 shares of the business services provider’s stock worth $17,664,000 after buying an additional 24,328 shares during the period. Finally, FIL Ltd increased its position in shares of SP Plus by 20.0% during the third quarter. FIL Ltd now owns 300,141 shares of the business services provider’s stock worth $10,955,000 after buying an additional 50,000 shares during the period. Institutional investors own 97.60% of the company’s stock.

SP Plus Company Profile

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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