SP Plus Corporation (SP) Rating Lowered to Hold at BidaskClub

SP Plus Corporation (NASDAQ:SP) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut SP Plus Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. ValuEngine cut SP Plus Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st.

Shares of SP Plus Corporation (SP) opened at $36.45 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. The stock has a market cap of $820.89, a PE ratio of 19.92, a price-to-earnings-growth ratio of 2.17 and a beta of 1.01.

SP Plus Corporation (NASDAQ:SP) last posted its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. SP Plus Corporation had a net margin of 2.64% and a return on equity of 14.63%. The business had revenue of $392.70 million during the quarter, compared to the consensus estimate of $228.10 million. equities research analysts anticipate that SP Plus Corporation will post 1.68 earnings per share for the current year.

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In other news, major shareholder Walter S. Woltosz sold 18,500 shares of SP Plus Corporation stock in a transaction on Saturday, October 28th. The stock was sold at an average price of $16.37, for a total transaction of $302,845.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert S. Roath sold 70,000 shares of SP Plus Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $34.77, for a total value of $2,433,900.00. Following the sale, the director now owns 36,936 shares in the company, valued at $1,284,264.72. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of SP Plus Corporation by 3.1% during the 2nd quarter. US Bancorp DE now owns 3,329 shares of the business services provider’s stock worth $102,000 after purchasing an additional 100 shares during the period. Legal & General Group Plc raised its stake in shares of SP Plus Corporation by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock worth $129,000 after purchasing an additional 200 shares during the period. Acadian Asset Management LLC raised its stake in shares of SP Plus Corporation by 678.9% during the 2nd quarter. Acadian Asset Management LLC now owns 5,748 shares of the business services provider’s stock worth $176,000 after purchasing an additional 5,010 shares during the period. California Public Employees Retirement System bought a new stake in shares of SP Plus Corporation during the 2nd quarter worth $214,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of SP Plus Corporation during the 2nd quarter worth $221,000. Institutional investors own 95.81% of the company’s stock.

SP Plus Corporation Company Profile

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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