SP Plus (NASDAQ:SP) Stock Rating Upgraded by ValuEngine

SP Plus (NASDAQ:SP) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday, ValuEngine reports.

Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of SP Plus from a “hold” rating to a “buy” rating in a research note on Tuesday. Barrington Research set a $43.00 price objective on shares of SP Plus and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Zacks Investment Research downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. SP Plus presently has an average rating of “Buy” and an average price target of $44.00.

Shares of NASDAQ SP traded down $1.26 during trading hours on Thursday, reaching $35.01. The stock had a trading volume of 88,127 shares, compared to its average volume of 76,249. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.93. The firm has a market cap of $789.13 million, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. The company has a fifty day moving average price of $33.26. SP Plus has a 52-week low of $27.13 and a 52-week high of $41.20.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $414.20 million during the quarter, compared to analyst estimates of $238.15 million. SP Plus had a return on equity of 16.14% and a net margin of 3.10%. As a group, equities research analysts anticipate that SP Plus will post 2.62 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Swiss National Bank increased its holdings in shares of SP Plus by 2.2% during the 2nd quarter. Swiss National Bank now owns 42,400 shares of the business services provider’s stock worth $1,354,000 after buying an additional 900 shares during the last quarter. Comerica Bank boosted its position in shares of SP Plus by 5.6% during the 2nd quarter. Comerica Bank now owns 92,535 shares of the business services provider’s stock worth $3,058,000 after purchasing an additional 4,913 shares during the period. SG Americas Securities LLC boosted its position in shares of SP Plus by 704.9% during the 2nd quarter. SG Americas Securities LLC now owns 53,682 shares of the business services provider’s stock worth $1,714,000 after purchasing an additional 47,013 shares during the period. Rothschild & Co. Asset Management US Inc. boosted its position in shares of SP Plus by 7.7% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 289,655 shares of the business services provider’s stock worth $9,249,000 after purchasing an additional 20,811 shares during the period. Finally, James Investment Research Inc. boosted its position in shares of SP Plus by 20.7% during the 2nd quarter. James Investment Research Inc. now owns 17,020 shares of the business services provider’s stock worth $543,000 after purchasing an additional 2,920 shares during the period. 98.56% of the stock is owned by institutional investors.

SP Plus Company Profile

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.

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