SP Plus (NASDAQ:SP) Coverage Initiated at StockNews.com

Research analysts at StockNews.com started coverage on shares of SP Plus (NASDAQ:SP) in a report released on Thursday. The brokerage set a “hold” rating on the business services provider’s stock.

SP Plus Stock Performance

Shares of NASDAQ SP opened at $53.99 on Thursday. 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 $53.77 and a 200 day moving average price of $52.32. The stock has a market capitalization of $1.07 billion, a PE 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 quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.06). The company had revenue of $222.10 million during the quarter, compared to analyst estimates of $229.00 million. SP Plus had a net margin of 1.68% and a return on equity of 21.93%. Analysts predict that SP Plus will post 3.5 earnings per share for the current fiscal year.

Institutional Trading of SP Plus

Several institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in shares of SP Plus by 868.4% during the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after buying an additional 495 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of SP Plus by 13.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,598 shares of the business services provider’s stock worth $293,000 after buying an additional 650 shares during the period. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of SP Plus during the 4th quarter worth about $61,000. Citigroup Inc. boosted its holdings in shares of SP Plus by 12.1% during the 3rd quarter. Citigroup Inc. now owns 11,437 shares of the business services provider’s stock worth $413,000 after buying an additional 1,238 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of SP Plus during the 4th quarter worth about $73,000. Institutional investors own 93.98% of the company’s stock.

About SP Plus

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.