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.
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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