SP Plus (NASDAQ:SP) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of SP Plus (NASDAQ:SP) in a report issued on Monday morning. The brokerage issued a hold rating on the business services provider’s stock.

Separately, TheStreet downgraded SP Plus from a b rating to a c+ rating in a research note on Tuesday, February 27th.

SP Plus Price Performance

Shares of NASDAQ:SP opened at $50.21 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $994.16 million, a price-to-earnings ratio of 32.19 and a beta of 1.22. The business has a 50-day simple moving average of $51.64 and a two-hundred day simple moving average of $51.29. SP Plus has a fifty-two week low of $32.78 and a fifty-two week high of $52.56.

SP Plus (NASDAQ:SP) last released its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.25). SP Plus had a net margin of 1.74% and a return on equity of 22.49%. The company had revenue of $217.20 million for the quarter, compared to analysts’ expectations of $235.44 million. On average, analysts expect that SP Plus will post 3.42 earnings per share for the current year.

Institutional Trading of SP Plus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in SP Plus by 868.4% during the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 495 shares during the period. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of SP Plus during the 4th quarter valued at about $61,000. Quest Partners LLC purchased a new position in shares of SP Plus during the 4th quarter valued at about $73,000. Quantbot Technologies LP purchased a new stake in SP Plus in the 3rd quarter worth approximately $101,000. Finally, SG Americas Securities LLC purchased a new stake in SP Plus in the 3rd quarter worth approximately $108,000. 93.98% of the stock is owned by hedge funds and other institutional investors.

SP Plus Company Profile

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.