Shares of Spartan Motors, Inc. (NASDAQ:SPAR) have earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $14.00.
Several research analysts have recently weighed in on the stock. Craig Hallum increased their price objective on shares of Spartan Motors to $20.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. TheStreet lowered shares of Spartan Motors from a “b-” rating to a “c+” rating in a report on Thursday, August 24th. Finally, Roth Capital set a $12.00 price objective on shares of Spartan Motors and gave the stock a “buy” rating in a report on Tuesday, August 1st.
Spartan Motors (NASDAQ SPAR) traded up 7.48% during midday trading on Friday, reaching $15.80. 534,411 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $10.52 and its 200-day moving average is $9.06. The stock has a market capitalization of $554.47 million, a price-to-earnings ratio of 147.66 and a beta of 1.16. Spartan Motors has a 12-month low of $6.30 and a 12-month high of $16.25.
Hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. raised its holdings in Spartan Motors by 16.4% in the second quarter. Eqis Capital Management Inc. now owns 17,871 shares of the company’s stock valued at $158,000 after buying an additional 2,513 shares during the period. Marshall Wace North America L.P. purchased a new position in Spartan Motors in the first quarter valued at approximately $145,000. MARSHALL WACE ASIA Ltd purchased a new position in Spartan Motors in the first quarter valued at approximately $145,000. Voya Investment Management LLC raised its holdings in Spartan Motors by 18.9% in the second quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock valued at $170,000 after buying an additional 3,049 shares during the period. Finally, American International Group Inc. raised its holdings in Spartan Motors by 7.0% in the first quarter. American International Group Inc. now owns 20,470 shares of the company’s stock valued at $164,000 after buying an additional 1,346 shares during the period. Institutional investors and hedge funds own 66.78% of the company’s stock.
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Spartan Motors Company Profile
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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