SP Plus (NASDAQ:SP) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of SP Plus (NASDAQ:SP) in a research note published on Tuesday morning. The firm issued a hold rating on the business services provider’s stock.

Separately, TheStreet cut shares of SP Plus from a b rating to a c+ rating in a research report on Tuesday, February 27th.

SP Plus Trading Up 0.0 %

NASDAQ SP opened at $51.51 on Tuesday. SP Plus has a twelve month low of $33.10 and a twelve month high of $52.56. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 33.89 and a beta of 1.22. The firm’s 50 day moving average price is $51.62 and its two-hundred day moving average price is $51.29.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.25). SP Plus had a return on equity of 22.21% and a net margin of 1.68%. The firm had revenue of $217.20 million for the quarter, compared to analysts’ expectations of $235.44 million. Equities analysts anticipate that SP Plus will post 3.42 EPS for the current year.

Hedge Funds Weigh In On SP Plus

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in shares of SP Plus by 868.4% in the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after acquiring an additional 495 shares during the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in SP Plus during the fourth quarter valued at about $61,000. Quest Partners LLC bought a new stake in SP Plus during the fourth quarter valued at about $73,000. Quantbot Technologies LP bought a new stake in SP Plus during the third quarter valued at about $101,000. Finally, SG Americas Securities LLC bought a new stake in SP Plus during the third quarter valued at about $108,000. 93.98% of the stock is owned by institutional investors and hedge funds.

SP Plus Company Profile

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.