SP Plus (NASDAQ:SP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of SP Plus (NASDAQ:SP) in a report released on Tuesday 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 Stock Performance

Shares of SP opened at $53.99 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a 50 day moving average price of $53.13 and a two-hundred day moving average price of $52.10. The firm has a market capitalization of $1.07 billion, a P/E ratio of 35.52 and a beta of 1.22. SP Plus has a 52 week low of $34.17 and a 52 week high of $54.42.

SP Plus (NASDAQ:SP) last released its earnings results on Wednesday, May 1st. The business services provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.06). The business had revenue of $222.10 million during the quarter, compared to the consensus estimate of $229.00 million. SP Plus had a net margin of 1.68% and a return on equity of 21.93%. Equities analysts forecast that SP Plus will post 3.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SP Plus

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in shares of SP Plus by 868.4% in the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after buying an additional 495 shares in the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of SP Plus in the fourth quarter worth $61,000. Quest Partners LLC purchased a new stake in shares of SP Plus in the fourth quarter worth $73,000. MQS Management LLC purchased a new stake in shares of SP Plus in the third quarter worth $205,000. Finally, GAM Holding AG purchased a new stake in shares of SP Plus in the fourth quarter worth $256,000. Hedge funds and other institutional investors own 93.98% of the company’s stock.

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.