SP Plus Corp (NASDAQ:SP) – Stock analysts at Barrington Research upped their FY2019 earnings per share estimates for shares of SP Plus in a research note issued on Tuesday, December 4th. Barrington Research analyst K. Steinke now forecasts that the business services provider will post earnings of $2.57 per share for the year, up from their previous estimate of $2.36. Barrington Research has a “Buy” rating and a $43.00 price objective on the stock.
Several other brokerages also recently issued reports on SP. ValuEngine downgraded shares of SP Plus from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research raised shares of SP Plus from a “sell” rating to a “hold” rating in a report on Friday, November 16th. BidaskClub downgraded shares of SP Plus from a “sell” rating to a “strong sell” rating in a report on Saturday, October 6th. Finally, Sidoti reduced their price target on shares of SP Plus from $52.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. SP Plus currently has an average rating of “Hold” and an average target price of $44.00.
SP Plus stock opened at $28.75 on Thursday. The firm has a market capitalization of $653.79 million, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. SP Plus has a 12 month low of $28.52 and a 12 month high of $41.70.
SP Plus (NASDAQ:SP) last released its quarterly earnings data on Wednesday, October 31st. The business services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $362.10 million during the quarter, compared to the consensus estimate of $190.74 million. SP Plus had a net margin of 3.50% and a return on equity of 14.51%.
A number of hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP raised its holdings in SP Plus by 18.2% in the 2nd quarter. First Trust Advisors LP now owns 25,756 shares of the business services provider’s stock worth $958,000 after acquiring an additional 3,970 shares during the last quarter. Victory Capital Management Inc. raised its holdings in SP Plus by 4.2% in the 2nd quarter. Victory Capital Management Inc. now owns 37,123 shares of the business services provider’s stock worth $1,380,000 after acquiring an additional 1,491 shares during the last quarter. IndexIQ Advisors LLC raised its holdings in SP Plus by 10.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 61,442 shares of the business services provider’s stock worth $2,286,000 after acquiring an additional 5,966 shares during the last quarter. Sei Investments Co. raised its holdings in SP Plus by 9.3% in the 2nd quarter. Sei Investments Co. now owns 129,979 shares of the business services provider’s stock worth $4,835,000 after acquiring an additional 11,085 shares during the last quarter. Finally, Granite Investment Partners LLC raised its holdings in SP Plus by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 332,418 shares of the business services provider’s stock worth $12,366,000 after acquiring an additional 1,752 shares during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.
In other news, CEO G Marc Baumann sold 1,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $36.50, for a total transaction of $36,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.
SP Plus Company Profile
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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