$174.95 Million in Sales Expected for Spartan Motors Inc (SPAR) This Quarter

Wall Street brokerages forecast that Spartan Motors Inc (NASDAQ:SPAR) will post sales of $174.95 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Spartan Motors’ earnings. The lowest sales estimate is $173.90 million and the highest is $176.00 million. Spartan Motors reported sales of $145.85 million during the same quarter last year, which indicates a positive year-over-year growth rate of 20%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.

On average, analysts expect that Spartan Motors will report full year sales of $174.95 million for the current financial year, with estimates ranging from $700.00 million to $701.80 million. For the next financial year, analysts expect that the company will post sales of $787.90 million per share, with estimates ranging from $780.80 million to $795.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Spartan Motors.

Spartan Motors (NASDAQ:SPAR) last announced its earnings results on Wednesday, November 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). The business had revenue of $189.22 million during the quarter, compared to the consensus estimate of $185.30 million. Spartan Motors had a return on equity of 8.04% and a net margin of 2.15%. Spartan Motors’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share.

A number of equities analysts have weighed in on the company. BidaskClub lowered Spartan Motors from a “hold” rating to a “sell” rating in a research note on Thursday. Roth Capital upped their target price on Spartan Motors from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. TheStreet upgraded Spartan Motors from a “c+” rating to a “b” rating in a research note on Thursday, November 2nd. Zacks Investment Research upgraded Spartan Motors from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Friday, October 20th. Finally, ValuEngine lowered Spartan Motors from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Spartan Motors presently has an average rating of “Hold” and a consensus target price of $17.00.

Spartan Motors (SPAR) opened at $14.95 on Friday. The firm has a market capitalization of $524.79, a PE ratio of 41.53, a price-to-earnings-growth ratio of 1.85 and a beta of 1.21. The company has a quick ratio of 0.95, a current ratio of 1.70 and a debt-to-equity ratio of 0.14. Spartan Motors has a one year low of $6.30 and a one year high of $18.10.

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 14th. This represents a dividend yield of 0.65%. Spartan Motors’s dividend payout ratio (DPR) is presently 24.39%.

In other news, insider John W. Slawson sold 21,191 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $15.42, for a total transaction of $326,765.22. Following the transaction, the insider now directly owns 111,165 shares in the company, valued at approximately $1,714,164.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.72% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in SPAR. Voya Investment Management LLC increased its position in shares of Spartan Motors by 18.9% during the 2nd quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock valued at $170,000 after purchasing an additional 3,049 shares during the last quarter. Alliancebernstein L.P. bought a new position in shares of Spartan Motors during the 2nd quarter valued at about $208,000. Royal Bank of Canada increased its position in shares of Spartan Motors by 213.5% during the 2nd quarter. Royal Bank of Canada now owns 27,755 shares of the company’s stock valued at $245,000 after purchasing an additional 18,903 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Spartan Motors by 15.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,895 shares of the company’s stock valued at $273,000 after purchasing an additional 4,145 shares during the last quarter. Finally, Monarch Partners Asset Management LLC bought a new position in shares of Spartan Motors during the 3rd quarter valued at about $313,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

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About Spartan Motors

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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