BidaskClub Downgrades Spartan Motors (NASDAQ:SPAR) to Hold

BidaskClub cut shares of Spartan Motors (NASDAQ:SPAR) from a buy rating to a hold rating in a research note published on Thursday morning, BidAskClub reports.

SPAR has been the subject of several other research reports. ValuEngine upgraded Spartan Motors from a sell rating to a hold rating in a research report on Wednesday, July 17th. Craig Hallum lifted their price target on Spartan Motors from $15.00 to $20.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Roth Capital reiterated a buy rating on shares of Spartan Motors in a research report on Friday, May 24th. Finally, Zacks Investment Research lowered Spartan Motors from a buy rating to a hold rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Spartan Motors has a consensus rating of Hold and an average price target of $15.00.

Shares of Spartan Motors stock traded up $0.13 during trading on Thursday, reaching $11.86. 3,341 shares of the stock traded hands, compared to its average volume of 223,260. The company has a market capitalization of $431.98 million, a price-to-earnings ratio of 24.65 and a beta of 1.54. The business has a fifty day simple moving average of $11.54 and a two-hundred day simple moving average of $9.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.13. Spartan Motors has a 52-week low of $6.70 and a 52-week high of $16.00.



Spartan Motors (NASDAQ:SPAR) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The company 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%. On average, research analysts predict that Spartan Motors will post 0.74 earnings per share for the current fiscal year.

In related news, CEO Daryl M. Adams sold 12,500 shares of Spartan Motors stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $13.23, for a total value of $165,375.00. Following the completion of the transaction, the chief executive officer now owns 639,675 shares in the company, valued at $8,462,900.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 37,500 shares of company stock valued at $421,750. 4.22% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SPAR. Bank of New York Mellon Corp lifted its stake in Spartan Motors by 30.7% in the fourth quarter. Bank of New York Mellon Corp now owns 238,976 shares of the company’s stock worth $1,728,000 after purchasing an additional 56,153 shares during the last quarter. Geode Capital Management LLC lifted its stake in Spartan Motors by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 366,422 shares of the company’s stock worth $2,649,000 after purchasing an additional 17,372 shares during the last quarter. Bank of America Corp DE lifted its stake in Spartan Motors by 69.2% in the fourth quarter. Bank of America Corp DE now owns 118,139 shares of the company’s stock worth $854,000 after purchasing an additional 48,335 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Spartan Motors by 374.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,765 shares of the company’s stock worth $85,000 after purchasing an additional 9,283 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Spartan Motors by 195.8% in the fourth quarter. Millennium Management LLC now owns 428,369 shares of the company’s stock worth $3,097,000 after purchasing an additional 283,529 shares during the last quarter. 66.52% of the stock is owned by institutional investors and hedge funds.

Spartan Motors Company Profile

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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