Spartan Motors (SPAR) Cut to Strong Sell at ValuEngine

ValuEngine lowered shares of Spartan Motors (NASDAQ:SPAR) from a sell rating to a strong sell rating in a research note published on Thursday.

A number of other analysts have also recently commented on the company. Zacks Investment Research cut Spartan Motors from a buy rating to a hold rating in a research report on Thursday, October 4th. BidaskClub cut Spartan Motors from a sell rating to a strong sell rating in a research report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Spartan Motors presently has an average rating of Hold and an average price target of $14.33.

Spartan Motors stock traded down $0.05 during mid-day trading on Thursday, reaching $7.40. 992,116 shares of the stock traded hands, compared to its average volume of 398,955. The stock has a market cap of $260.29 million, a PE ratio of 17.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.28 and a current ratio of 1.74. Spartan Motors has a 12-month low of $6.70 and a 12-month high of $19.45.

Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). The firm had revenue of $226.18 million for the quarter, compared to analysts’ expectations of $227.27 million. Spartan Motors had a net margin of 2.04% and a return on equity of 9.77%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. As a group, sell-side analysts predict that Spartan Motors will post 0.43 EPS for the current fiscal year.

In other news, insider Stephen K. Guillaume sold 4,144 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $15.23, for a total value of $63,113.12. Following the completion of the transaction, the insider now owns 63,429 shares of the company’s stock, valued at $966,023.67. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Anthony Mascarenas acquired 15,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was acquired at an average cost of $7.35 per share, with a total value of $110,250.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at $110,250. The disclosure for this purchase can be found here. Corporate insiders own 4.22% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio boosted its stake in shares of Spartan Motors by 9.9% in the second quarter. Strs Ohio now owns 51,100 shares of the company’s stock worth $771,000 after acquiring an additional 4,600 shares during the period. MetLife Investment Advisors LLC boosted its stake in shares of Spartan Motors by 40.2% in the second quarter. MetLife Investment Advisors LLC now owns 16,327 shares of the company’s stock worth $247,000 after acquiring an additional 4,685 shares during the period. Kirr Marbach & Co. LLC IN boosted its stake in shares of Spartan Motors by 19.3% in the second quarter. Kirr Marbach & Co. LLC IN now owns 29,974 shares of the company’s stock worth $453,000 after acquiring an additional 4,849 shares during the period. Gabelli Funds LLC boosted its stake in shares of Spartan Motors by 6.2% in the second quarter. Gabelli Funds LLC now owns 85,375 shares of the company’s stock worth $1,289,000 after acquiring an additional 5,000 shares during the period. Finally, NJ State Employees Deferred Compensation Plan boosted its stake in shares of Spartan Motors by 21.4% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 34,000 shares of the company’s stock worth $513,000 after acquiring an additional 6,000 shares during the period. 68.33% of the stock is owned by hedge funds and other institutional investors.

Spartan Motors Company Profile

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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