Spartan Motors (NASDAQ:SPAR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Spartan is a leading designer, engineer and manufacturer of custom heavy-duty chassis. The Company’s chassis consist of a frame assembly, engine, transmission, electrical systems, running gear (wheels, tires, axles, suspension and brakes) and, for some applications, a cab. The Company’s customers are original equipment manufacturers (OEMs) who complete their vehicle product by mounting the body or apparatus on a Spartan chassis. “
Several other analysts also recently commented on the stock. BidaskClub upgraded shares of Spartan Motors from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. ValuEngine downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday, December 1st. TheStreet upgraded shares of Spartan Motors from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Sidoti assumed coverage on shares of Spartan Motors in a report on Friday, December 1st. They set a “buy” rating on the stock. Finally, Seaport Global Securities restated a “buy” rating on shares of Spartan Motors in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.00.
Spartan Motors (NASDAQ SPAR) opened at $15.00 on Wednesday. Spartan Motors has a one year low of $6.30 and a one year high of $18.10. The firm has a market cap of $526.55, a P/E ratio of 36.59, a P/E/G ratio of 1.91 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 1.70.
In other news, insider John W. Slawson sold 21,191 shares of Spartan Motors stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $15.42, for a total value of $326,765.22. Following the sale, the insider now directly owns 111,165 shares in the company, valued at $1,714,164.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.72% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC raised its holdings 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 purchasing an additional 3,049 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Spartan Motors by 15.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,895 shares of the company’s stock valued at $273,000 after purchasing an additional 4,145 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Spartan Motors by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 294,002 shares of the company’s stock valued at $4,630,000 after purchasing an additional 5,998 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of Spartan Motors by 10.8% in the second quarter. Teachers Advisors LLC now owns 61,987 shares of the company’s stock valued at $549,000 after purchasing an additional 6,051 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Spartan Motors in the fourth quarter valued at approximately $179,000. Institutional investors own 67.43% 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.
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