Spartan Motors (NASDAQ:SPAR) Upgraded 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, BidAskClub reports.

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

Shares of NASDAQ:SPAR opened at $13.99 on Friday. The stock has a market cap of $477.54 million, a PE ratio of 29.15 and a beta of 1.46. The company’s fifty day moving average is $12.24 and its 200 day moving average is $10.11. Spartan Motors has a 52 week low of $6.70 and a 52 week high of $16.00. The company has a quick ratio of 1.13, a current ratio of 1.61 and a debt-to-equity ratio of 0.17.

Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Thursday, August 1st. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The business had revenue of $247.94 million during the quarter, compared to analysts’ expectations of $235.60 million. Spartan Motors had a return on equity of 8.65% and a net margin of 1.27%. Sell-side analysts anticipate that Spartan Motors will post 0.74 EPS for the current year.

In other Spartan Motors news, insider Daryl M. Adams sold 12,500 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $10.99, for a total value of $137,375.00. Following the sale, the insider now owns 652,175 shares of the company’s stock, valued at approximately $7,167,403.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 50,000 shares of company stock worth $570,250. Insiders own 4.22% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP bought a new stake in Spartan Motors in the 2nd quarter worth $185,000. Nuveen Asset Management LLC grew its holdings in Spartan Motors by 788.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 318,459 shares of the company’s stock worth $3,491,000 after acquiring an additional 282,629 shares during the last quarter. Centaurus Financial Inc. grew its holdings in Spartan Motors by 12,223.0% in the 2nd quarter. Centaurus Financial Inc. now owns 1,008,266 shares of the company’s stock worth $11,051,000 after acquiring an additional 1,000,084 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Spartan Motors by 16.6% in the 2nd quarter. Victory Capital Management Inc. now owns 181,500 shares of the company’s stock worth $1,989,000 after acquiring an additional 25,850 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Spartan Motors in the 2nd quarter worth $173,000. 69.53% of the stock is currently owned by institutional investors and hedge funds.

About Spartan Motors

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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