Spartan Motors Inc Announces Semi-Annual Dividend of $0.05 (NASDAQ:SPAR)

Spartan Motors Inc (NASDAQ:SPAR) announced a Semi-Annual dividend on Monday, November 4th, Zacks reports. Stockholders of record on Thursday, November 14th will be paid a dividend of 0.05 per share on Monday, December 16th. The ex-dividend date of this dividend is Wednesday, November 13th.

Shares of NASDAQ:SPAR traded down $0.27 during midday trading on Wednesday, reaching $17.70. 21,172 shares of the company were exchanged, compared to its average volume of 275,946. The company has a current ratio of 1.72, a quick ratio of 1.19 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average is $14.74 and its two-hundred day moving average is $11.66. Spartan Motors has a one year low of $6.97 and a one year high of $19.31. The stock has a market cap of $652.03 million, a PE ratio of 36.96 and a beta of 1.43.

Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.08. Spartan Motors had a net margin of 1.70% and a return on equity of 11.81%. The firm had revenue of $288.95 million during the quarter, compared to analyst estimates of $231.49 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. Spartan Motors’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, sell-side analysts expect that Spartan Motors will post 0.89 EPS for the current year.

A number of equities analysts recently weighed in on SPAR shares. Zacks Investment Research upgraded shares of Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research report on Tuesday. BidaskClub upgraded shares of Spartan Motors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Sidoti upped their target price on shares of Spartan Motors from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. TheStreet upgraded shares of Spartan Motors from a “c+” rating to a “b-” rating in a research report on Friday, October 18th. Finally, ValuEngine upgraded shares of Spartan Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $20.33.

In related news, CEO Daryl M. Adams sold 12,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.88, for a total transaction of $148,500.00. Following the completion of the transaction, the chief executive officer now owns 627,175 shares in the company, valued at $7,450,839. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 37,500 shares of company stock valued at $547,500. 3.78% of the stock is owned by company insiders.

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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Dividend History for Spartan Motors (NASDAQ:SPAR)

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