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.
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