Sidoti initiated coverage on shares of Spartan Motors (NASDAQ:SPAR) in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating on the stock.
A number of other research firms have also issued reports on SPAR. Zacks Investment Research raised shares of Spartan Motors from a hold rating to a buy rating and set a $18.00 target price for the company in a research note on Friday, October 20th. TheStreet raised shares of Spartan Motors from a c+ rating to a b rating in a research note on Thursday, November 2nd. Roth Capital boosted their target price on shares of Spartan Motors from $12.00 to $20.00 and gave the company a buy rating in a research note on Tuesday, October 17th. Craig Hallum set a $20.00 target price on shares of Spartan Motors and gave the company a buy rating in a research note on Friday, October 13th. Finally, BidaskClub lowered shares of Spartan Motors from a buy rating to a hold rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $17.00.
Shares of Spartan Motors (SPAR) opened at $16.15 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 1.70. Spartan Motors has a 1 year low of $6.30 and a 1 year high of $17.20. The firm has a market cap of $566.92, a PE ratio of 44.86, a P/E/G ratio of 2.65 and a beta of 1.21.
The company also recently announced a Semi-Annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.05 per share. This represents a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, November 14th. Spartan Motors’s payout ratio is 24.39%.
A number of institutional investors have recently bought and sold shares of SPAR. American International Group Inc. boosted its stake in Spartan Motors by 7.0% during the 1st quarter. American International Group Inc. now owns 20,470 shares of the company’s stock valued at $164,000 after purchasing an additional 1,346 shares during the period. Voya Investment Management LLC lifted its stake in shares of Spartan Motors by 18.9% in the 2nd quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock worth $170,000 after acquiring an additional 3,049 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in shares of Spartan Motors by 12.2% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 25,563 shares of the company’s stock worth $205,000 after acquiring an additional 2,776 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of Spartan Motors in the 2nd quarter worth approximately $208,000. Finally, Royal Bank of Canada lifted its stake in shares of Spartan Motors by 213.5% in the 2nd quarter. Royal Bank of Canada now owns 27,755 shares of the company’s stock worth $245,000 after acquiring an additional 18,903 shares during the period. 66.23% of the stock is owned by hedge funds and other institutional investors.
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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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