Zacks Investment Research upgraded shares of SP Plus (NASDAQ:SP) from a hold rating to a buy rating in a research note released on Saturday morning. They currently have $39.00 target price on the business services provider’s stock.
According to Zacks, “SP Plus Corporation provides professional parking, ground transportation, facility maintenance, security and event logistics services to property owners and managers in all markets of the real estate industry. The Company also provides a range of ancillary services, such as airport shuttle operations, taxi and livery dispatch services and municipal meter revenue collection and enforcement services. Its clients include owners of office building complexes, shopping centers, sports complexes, hotels, hospitals, and various airports. SP Plus Corporation, formerly known as Standard Parking Corporation, is based in United States. “
Separately, BidaskClub lowered shares of SP Plus from a buy rating to a hold rating in a research note on Friday, December 22nd.
SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. SP Plus had a net margin of 2.55% and a return on equity of 12.87%. The firm had revenue of $392.40 million for the quarter, compared to analyst estimates of $223.40 million. equities research analysts expect that SP Plus will post 2.21 EPS for the current year.
In other news, EVP Gerard M. Klaisle sold 7,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.15, for a total value of $286,125.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO G Marc Baumann sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.00, for a total transaction of $38,000.00. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Zions Bancorporation bought a new stake in shares of SP Plus in the third quarter worth $108,000. Envestnet Asset Management Inc. acquired a new position in SP Plus during the fourth quarter worth $120,000. SG Americas Securities LLC acquired a new position in SP Plus during the third quarter worth $141,000. Magnetar Financial LLC acquired a new position in SP Plus during the third quarter worth $271,000. Finally, California Public Employees Retirement System acquired a new position in SP Plus during the second quarter worth $214,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.
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SP Plus Company Profile
SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.
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