Shares of SP Plus Corp (NASDAQ:SP) have received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Analysts have set a 1-year consensus price objective of $43.00 for the company and are anticipating that the company will post $0.61 earnings per share for the current quarter, according to Zacks. Zacks has also given SP Plus an industry rank of 60 out of 255 based on the ratings given to its competitors.
A number of research analysts have recently issued reports on SP shares. BidaskClub downgraded SP Plus from a “hold” rating to a “sell” rating in a research note on Thursday, May 24th. Zacks Investment Research downgraded SP Plus from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. ValuEngine raised SP Plus from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Finally, Barrington Research boosted their price objective on SP Plus from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, August 6th.
NASDAQ SP opened at $37.70 on Friday. SP Plus has a 12 month low of $32.15 and a 12 month high of $41.70. The stock has a market capitalization of $859.18 million, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.67 and a beta of 1.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.87 and a current ratio of 0.87.
SP Plus (NASDAQ:SP) last released its quarterly earnings results on Tuesday, July 31st. The business services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. SP Plus had a return on equity of 14.06% and a net margin of 3.28%. The firm had revenue of $362.20 million for the quarter, compared to analyst estimates of $191.95 million. equities research analysts expect that SP Plus will post 2.27 EPS for the current year.
In other news, insider Thomas L. Hagerman sold 3,918 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $39.25, for a total value of $153,781.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO G Marc Baumann sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $36.95, for a total value of $36,950.00. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new position in SP Plus during the first quarter valued at $107,000. SG Americas Securities LLC bought a new position in SP Plus during the first quarter valued at $147,000. WINTON GROUP Ltd bought a new position in SP Plus during the first quarter valued at $217,000. Citigroup Inc. grew its holdings in SP Plus by 61.4% during the first quarter. Citigroup Inc. now owns 6,972 shares of the business services provider’s stock valued at $248,000 after purchasing an additional 2,652 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its holdings in SP Plus by 30.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 7,462 shares of the business services provider’s stock valued at $278,000 after purchasing an additional 1,744 shares during the period. 96.37% of the stock is owned by institutional investors.
About SP Plus
SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.
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