Spartan Motors (SPAR) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of Spartan Motors (NASDAQ:SPAR) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other research analysts have also issued reports on the company. Zacks Investment Research upgraded Spartan Motors from a hold rating to a buy rating and set a $18.00 price objective for the company in a research note on Friday, October 20th. Craig Hallum set a $20.00 price objective on Spartan Motors and gave the stock a buy rating in a research note on Friday, October 13th. TheStreet upgraded Spartan Motors from a c+ rating to a b rating in a research note on Thursday, November 2nd. Finally, Roth Capital increased their price objective on Spartan Motors from $12.00 to $20.00 and gave the stock a buy rating in a research note on Tuesday, October 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $17.00.

Shares of Spartan Motors (NASDAQ SPAR) traded up $0.25 during mid-day trading on Friday, reaching $16.40. The company had a trading volume of 295,100 shares, compared to its average volume of 227,036. The company has a market capitalization of $566.92, a PE ratio of 44.86, a P/E/G ratio of 2.65 and a beta of 1.21. Spartan Motors has a 52-week low of $6.30 and a 52-week high of $17.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 1.70.

Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Wednesday, November 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). The firm had revenue of $189.22 million during the quarter, compared to the consensus estimate of $185.30 million. Spartan Motors had a return on equity of 8.04% and a net margin of 2.15%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. research analysts anticipate that Spartan Motors will post 0.41 EPS for the current fiscal year.

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, November 14th. This represents a dividend yield of 0.65%. Spartan Motors’s dividend payout ratio (DPR) is presently 24.39%.

Large investors have recently made changes to their positions in the company. Voya Investment Management LLC increased its stake in shares of Spartan Motors by 18.9% in the second quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock valued at $170,000 after buying an additional 3,049 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Spartan Motors by 12.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 25,563 shares of the company’s stock worth $205,000 after purchasing an additional 2,776 shares during the period. Alliancebernstein L.P. acquired a new stake in Spartan Motors in the second quarter worth about $208,000. Royal Bank of Canada increased its position in Spartan Motors by 213.5% in the second quarter. Royal Bank of Canada now owns 27,755 shares of the company’s stock worth $245,000 after purchasing an additional 18,903 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Spartan Motors by 15.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,895 shares of the company’s stock worth $273,000 after purchasing an additional 4,145 shares during the period. Institutional investors own 66.23% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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