BidaskClub Lowers SP Plus (SP) to Hold

BidaskClub downgraded shares of SP Plus (NASDAQ:SP) from a buy rating to a hold rating in a research note published on Friday.

Several other equities research analysts have also recently weighed in on SP. ValuEngine upgraded SP Plus from a hold rating to a buy rating in a report on Friday, September 1st. Zacks Investment Research cut SP Plus from a buy rating to a hold rating in a report on Wednesday, October 18th.

SP Plus (SP) opened at $38.20 on Friday. SP Plus has a 1-year low of $27.05 and a 1-year high of $41.25. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $870.42, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.27 and a beta of 1.00.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.08. SP Plus had a return on equity of 14.29% and a net margin of 2.64%. The company had revenue of $392.70 million during the quarter, compared to analysts’ expectations of $228.10 million. equities analysts expect that SP Plus will post 1.7 earnings per share for the current year.

In related news, major shareholder Walter S. Woltosz sold 18,500 shares of the company’s stock in a transaction dated Saturday, October 28th. The stock was sold at an average price of $16.37, for a total transaction of $302,845.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of SP Plus by 16.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,067,822 shares of the business services provider’s stock worth $42,179,000 after buying an additional 153,730 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of SP Plus by 22.3% in the second quarter. Vanguard Group Inc. now owns 942,891 shares of the business services provider’s stock worth $28,805,000 after buying an additional 172,123 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of SP Plus in the second quarter worth about $14,540,000. Renaissance Technologies LLC boosted its stake in shares of SP Plus by 24.9% in the second quarter. Renaissance Technologies LLC now owns 428,500 shares of the business services provider’s stock worth $13,091,000 after buying an additional 85,400 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new stake in shares of SP Plus in the second quarter worth about $11,962,000. Institutional investors and hedge funds own 96.53% of the company’s stock.

TRADEMARK VIOLATION WARNING: “BidaskClub Lowers SP Plus (SP) to Hold” was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.com-unik.info/2017/12/25/bidaskclub-lowers-sp-plus-sp-to-hold.html.

SP Plus 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.

Receive News & Ratings for SP Plus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SP Plus and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit