Shares of Spartan Motors Inc (NASDAQ:SPAR) have earned a consensus rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $20.00.
SPAR has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Spartan Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. BidaskClub cut shares of Spartan Motors from a “hold” rating to a “sell” rating in a research report on Saturday, May 12th. Roth Capital reissued a “buy” rating on shares of Spartan Motors in a research report on Friday, March 2nd. Finally, ValuEngine raised shares of Spartan Motors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd.
In other Spartan Motors news, insider Thomas C. Schultz sold 18,380 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $16.17, for a total transaction of $297,204.60. Following the completion of the sale, the insider now directly owns 153,388 shares in the company, valued at approximately $2,480,283.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas Kivell sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $16.15, for a total transaction of $40,375.00. Following the sale, the vice president now owns 79,781 shares of the company’s stock, valued at $1,288,463.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,799 shares of company stock valued at $965,492. 4.22% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH increased its stake in Spartan Motors by 35.0% during the 1st quarter. Allianz Asset Management GmbH now owns 289,328 shares of the company’s stock valued at $4,976,000 after purchasing an additional 75,085 shares in the last quarter. Navellier & Associates Inc bought a new stake in Spartan Motors during the 1st quarter valued at about $250,000. WINTON GROUP Ltd bought a new stake in Spartan Motors during the 1st quarter valued at about $474,000. Wesbanco Bank Inc. bought a new stake in Spartan Motors during the 1st quarter valued at about $1,109,000. Finally, Barclays PLC increased its stake in Spartan Motors by 161.6% during the 1st quarter. Barclays PLC now owns 14,904 shares of the company’s stock valued at $256,000 after purchasing an additional 9,206 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.
NASDAQ SPAR traded down $0.10 during trading hours on Wednesday, reaching $14.45. 210,000 shares of the company’s stock traded hands, compared to its average volume of 258,719. Spartan Motors has a 52-week low of $8.50 and a 52-week high of $19.45. The stock has a market cap of $513.53 million, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 1.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.88 and a quick ratio of 1.44.
Spartan Motors (NASDAQ:SPAR) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. Spartan Motors had a net margin of 2.98% and a return on equity of 10.21%. The company had revenue of $173.04 million during the quarter, compared to analysts’ expectations of $171.51 million. During the same period last year, the company posted $0.04 EPS. Spartan Motors’s revenue was up 3.6% on a year-over-year basis. research analysts expect that Spartan Motors will post 0.63 earnings per share for the current fiscal year.
The company also recently disclosed a semiannual dividend, which was paid on Friday, June 15th. Shareholders of record on Tuesday, May 15th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, May 14th. This represents a yield of 0.6%. Spartan Motors’s dividend payout ratio is currently 23.26%.
About Spartan Motors
Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, and sells heavy-duty and purpose-built specialty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.
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