Spartan Motors (NASDAQ:SPAR) Rating Increased to Buy at BidaskClub

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BidaskClub upgraded shares of Spartan Motors (NASDAQ:SPAR) from a hold rating to a buy rating in a research report sent to investors on Friday morning, BidAskClub reports.

Several other research firms have also recently commented on SPAR. Craig Hallum increased their target price on Spartan Motors from $15.00 to $20.00 and gave the company a buy rating in a research note on Friday, August 2nd. ValuEngine upgraded Spartan Motors from a sell rating to a hold rating in a research note on Wednesday, July 17th. Zacks Investment Research cut Spartan Motors from a buy rating to a hold rating in a research note on Thursday, July 25th. Finally, Roth Capital reiterated a buy rating on shares of Spartan Motors in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Spartan Motors currently has a consensus rating of Buy and an average target price of $15.00.

Spartan Motors stock opened at $13.86 on Friday. The stock has a market cap of $494.13 million, a P/E ratio of 28.88 and a beta of 1.46. The company has a current ratio of 1.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $12.36 and a 200-day moving average of $10.19. Spartan Motors has a 52 week low of $6.70 and a 52 week high of $16.00.

Spartan Motors (NASDAQ:SPAR) last released its earnings results on Thursday, August 1st. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The business had revenue of $247.94 million for the quarter, compared to analysts’ expectations of $235.60 million. Spartan Motors had a net margin of 1.27% and a return on equity of 8.65%. As a group, equities analysts predict that Spartan Motors will post 0.74 earnings per share for the current fiscal year.

In related news, CEO Daryl M. Adams sold 12,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $13.23, for a total transaction of $165,375.00. Following the transaction, the chief executive officer now directly owns 639,675 shares in the company, valued at $8,462,900.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 37,500 shares of company stock worth $451,250 over the last 90 days. 3.78% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can lifted its stake in Spartan Motors by 19,486.7% during the second quarter. Bank of Montreal Can now owns 2,938 shares of the company’s stock worth $32,000 after purchasing an additional 2,923 shares during the last quarter. Aperio Group LLC bought a new position in Spartan Motors during the second quarter worth $33,000. Acadian Asset Management LLC bought a new position in Spartan Motors during the second quarter worth $48,000. BNP Paribas Arbitrage SA lifted its stake in Spartan Motors by 54,830.8% during the first quarter. BNP Paribas Arbitrage SA now owns 7,141 shares of the company’s stock worth $63,000 after purchasing an additional 7,128 shares during the last quarter. Finally, Algert Global LLC bought a new position in Spartan Motors during the second quarter worth $173,000. Hedge funds and other institutional investors own 69.53% of the company’s stock.

Spartan Motors Company Profile

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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