FY2018 Earnings Estimate for Spartan Motors, Inc. (SPAR) Issued By Seaport Global Securities

Spartan Motors, Inc. (NASDAQ:SPAR) – Research analysts at Seaport Global Securities raised their FY2018 earnings per share (EPS) estimates for shares of Spartan Motors in a report issued on Tuesday. Seaport Global Securities analyst R. Wood now expects that the company will earn $0.73 per share for the year, up from their previous forecast of $0.55. Seaport Global Securities also issued estimates for Spartan Motors’ FY2019 earnings at $1.00 EPS.

SPAR has been the subject of several other reports. Zacks Investment Research downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Craig Hallum set a $20.00 target price on shares of Spartan Motors and gave the company a “buy” rating in a research note on Friday, October 13th. Roth Capital set a $12.00 target price on shares of Spartan Motors and gave the company a “buy” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Spartan Motors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, TheStreet downgraded shares of Spartan Motors from a “b-” rating to a “c+” rating in a research note on Thursday, August 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $15.50.

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Spartan Motors (SPAR) traded up 3.43% during trading on Thursday, reaching $16.60. The company had a trading volume of 356,241 shares. The stock has a market capitalization of $582.54 million, a P/E ratio of 155.14 and a beta of 1.16. Spartan Motors has a 12-month low of $6.30 and a 12-month high of $16.70. The stock has a 50 day moving average of $11.28 and a 200-day moving average of $9.29.

Spartan Motors (NASDAQ:SPAR) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $169.70 million for the quarter, compared to analysts’ expectations of $167.83 million. Spartan Motors had a return on equity of 5.57% and a net margin of 0.59%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS.

Several large investors have recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Spartan Motors during the second quarter worth $477,000. The Manufacturers Life Insurance Company lifted its stake in shares of Spartan Motors by 15.5% during the second quarter. The Manufacturers Life Insurance Company now owns 30,895 shares of the company’s stock worth $273,000 after buying an additional 4,145 shares during the period. State Street Corp lifted its stake in shares of Spartan Motors by 11.6% during the second quarter. State Street Corp now owns 532,969 shares of the company’s stock worth $4,719,000 after buying an additional 55,350 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its stake in shares of Spartan Motors by 0.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 256,550 shares of the company’s stock worth $2,270,000 after buying an additional 2,000 shares during the period. Finally, Intrinsic Edge Capital Management LLC lifted its stake in shares of Spartan Motors by 58.7% during the second quarter. Intrinsic Edge Capital Management LLC now owns 254,384 shares of the company’s stock worth $2,251,000 after buying an additional 94,122 shares during the period. Institutional investors and hedge funds own 66.78% of the company’s stock.

About Spartan Motors

Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.

Earnings History and Estimates for Spartan Motors (NASDAQ:SPAR)

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