According to Zacks, “Spartan is a leading designer, engineer and manufacturer of custom heavy-duty chassis. The Company’s chassis consist of a frame assembly, engine, transmission, electrical systems, running gear (wheels, tires, axles, suspension and brakes) and, for some applications, a cab. The Company’s customers are original equipment manufacturers (OEMs) who complete their vehicle product by mounting the body or apparatus on a Spartan chassis. “
Separately, Craig Hallum began coverage on shares of Spartan Motors in a research report on Tuesday, July 26th. They set a buy rating for the company.
Shares of Spartan Motors (NASDAQ:SPAR) opened at 9.42 on Thursday. Spartan Motors has a 1-year low of $2.61 and a 1-year high of $10.50. The firm’s market cap is $324.34 million. The company has a 50 day moving average of $9.51 and a 200 day moving average of $7.15.
Spartan Motors (NASDAQ:SPAR) last posted its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.11. The company had revenue of $162.50 million for the quarter, compared to analyst estimates of $152.65 million. Spartan Motors had a negative net margin of 1.80% and a positive return on equity of 1.49%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. On average, equities analysts forecast that Spartan Motors will post $0.32 earnings per share for the current fiscal year.
In other news, Director Kenneth Kaczmarek sold 3,909 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $9.08, for a total transaction of $35,493.72. Following the completion of the sale, the director now owns 76,883 shares of the company’s stock, valued at $698,097.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.59% of the company’s stock.
Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Spartan Motors during the second quarter valued at about $103,000. BlackRock Advisors LLC increased its stake in shares of Spartan Motors by 138.8% in the second quarter. BlackRock Advisors LLC now owns 18,845 shares of the company’s stock valued at $118,000 after buying an additional 10,953 shares in the last quarter. American International Group Inc. bought a new stake in shares of Spartan Motors during the second quarter valued at about $120,000. Smith Asset Management Group LP bought a new stake in shares of Spartan Motors during the second quarter valued at about $122,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Spartan Motors by 180.8% in the second quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock valued at $134,000 after buying an additional 13,743 shares in the last quarter. 65.77% of the stock is owned by institutional investors.
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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