Spartan Motors Inc (NASDAQ:SPAR) CEO Daryl M. Adams bought 25,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were purchased at an average cost of $7.31 per share, with a total value of $182,750.00. Following the completion of the acquisition, the chief executive officer now owns 642,536 shares in the company, valued at $4,696,938.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NASDAQ SPAR opened at $7.62 on Tuesday. The firm has a market capitalization of $260.30 million, a P/E ratio of 17.72 and a beta of 1.31. The company has a quick ratio of 1.22, a current ratio of 1.74 and a debt-to-equity ratio of 0.10. Spartan Motors Inc has a one year low of $6.70 and a one year high of $19.45.
Spartan Motors (NASDAQ:SPAR) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.08). The company had revenue of $226.18 million during the quarter, compared to analysts’ expectations of $227.27 million. Spartan Motors had a return on equity of 9.77% and a net margin of 2.04%. Spartan Motors’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. Equities research analysts expect that Spartan Motors Inc will post 0.43 earnings per share for the current year.
The business also recently declared a dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 14th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 13th. Spartan Motors’s payout ratio is presently 23.26%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its holdings in Spartan Motors by 44.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 99,610 shares of the company’s stock worth $1,505,000 after acquiring an additional 30,765 shares in the last quarter. Strs Ohio grew its holdings in shares of Spartan Motors by 9.9% during the second quarter. Strs Ohio now owns 51,100 shares of the company’s stock worth $771,000 after buying an additional 4,600 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in shares of Spartan Motors during the third quarter worth $1,475,000. Macquarie Group Ltd. grew its holdings in shares of Spartan Motors by 181.9% during the second quarter. Macquarie Group Ltd. now owns 38,903 shares of the company’s stock worth $587,000 after buying an additional 25,103 shares in the last quarter. Finally, Gradient Investments LLC purchased a new stake in shares of Spartan Motors during the third quarter worth $1,031,000. 69.13% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on the stock. ValuEngine lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Zacks Investment Research lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. BidaskClub lowered shares of Spartan Motors from a “sell” rating to a “strong sell” rating in a report on Thursday, July 26th. Roth Capital cut their price target on shares of Spartan Motors from $20.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Finally, Craig Hallum set a $12.00 price target on shares of Spartan Motors and gave the stock a “buy” rating in a report on Wednesday, October 31st. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.33.
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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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