SP Plus (NASDAQ:SP) had its price objective raised by stock analysts at Barrington Research from $43.00 to $51.00 in a report released on Wednesday, The Fly reports. Barrington Research’s target price points to a potential upside of 10.87% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday. BidaskClub upgraded shares of SP Plus from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, ValuEngine upgraded shares of SP Plus from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st.
SP stock traded up $0.27 during trading hours on Wednesday, reaching $46.00. The stock had a trading volume of 4,910 shares, compared to its average volume of 109,979. The stock has a market capitalization of $1.04 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.67 and a beta of 0.98. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a 50-day simple moving average of $38.73 and a 200 day simple moving average of $34.89. SP Plus has a fifty-two week low of $27.13 and a fifty-two week high of $47.33.
In related news, insider Gerard M. Klaisle sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $36.91, for a total transaction of $46,137.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO G Marc Baumann sold 3,800 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $46.63, for a total transaction of $177,194.00. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in SP. Bank of Montreal Can grew its stake in SP Plus by 1,770.6% during the second quarter. Bank of Montreal Can now owns 2,039 shares of the business services provider’s stock worth $65,000 after buying an additional 1,930 shares in the last quarter. ETF Managers Group LLC acquired a new stake in SP Plus during the second quarter worth about $184,000. Campbell & CO Investment Adviser LLC acquired a new stake in SP Plus during the second quarter worth about $207,000. Paloma Partners Management Co acquired a new stake in SP Plus during the second quarter worth about $237,000. Finally, BBT Capital Management LLC acquired a new stake in SP Plus during the second quarter worth about $336,000. 98.20% of the stock is currently owned by institutional investors and hedge funds.
About SP Plus
SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.
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