Spartan Motors Inc. (NASDAQ:SPAR) has been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company. Spartan Motors’ rating score has improved by 33.3% in the last 90 days as a result of various analysts’ ratings changes.
Brokers have set a 1 year consensus price objective of $10.00 for the company and are forecasting that the company will post $0.07 EPS for the current quarter, according to Zacks. Zacks has also assigned Spartan Motors an industry rank of 32 out of 265 based on the ratings given to its competitors.
A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Spartan Motors from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Craig Hallum initiated coverage on Spartan Motors in a research report on Tuesday, July 26th. They issued a “buy” rating on the stock.
In other Spartan Motors news, Director Kenneth Kaczmarek sold 21,017 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $9.12, for a total value of $191,675.04. Following the sale, the director now owns 105,124 shares in the company, valued at approximately $958,730.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.59% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC raised its position in shares of Spartan Motors by 62.7% in the first quarter. Algert Global LLC now owns 112,748 shares of the company’s stock worth $445,000 after buying an additional 43,458 shares during the period. Royce & Associates LP raised its position in shares of Spartan Motors by 6.3% in the first quarter. Royce & Associates LP now owns 1,841,479 shares of the company’s stock worth $7,274,000 after buying an additional 108,417 shares during the period. Spark Investment Management LLC raised its position in shares of Spartan Motors by 42.7% in the first quarter. Spark Investment Management LLC now owns 63,200 shares of the company’s stock worth $249,000 after buying an additional 18,900 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Spartan Motors by 34.8% in the first quarter. Goldman Sachs Group Inc. now owns 31,689 shares of the company’s stock worth $125,000 after buying an additional 8,174 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Spartan Motors by 80.2% in the first quarter. Renaissance Technologies LLC now owns 184,200 shares of the company’s stock worth $728,000 after buying an additional 82,000 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.
Shares of Spartan Motors (NASDAQ:SPAR) opened at 9.63 on Monday. Spartan Motors has a 12 month low of $2.61 and a 12 month high of $9.95. The company’s market cap is $331.57 million. The company has a 50-day moving average of $9.44 and a 200 day moving average of $6.79.
Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.11. The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $152.65 million. Spartan Motors had a positive return on equity of 1.49% and a negative net margin of 1.80%. Spartan Motors’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. On average, analysts anticipate that Spartan Motors will post $0.32 earnings per share for the current year.
About Spartan Motors
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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