Spartan Motors (SPAR) Upgraded by BidaskClub to “Sell”

Spartan Motors (NASDAQ:SPAR) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday.

SPAR has been the subject of several other reports. ValuEngine downgraded Spartan Motors from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded Spartan Motors from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Roth Capital reduced their target price on Spartan Motors from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. TheStreet downgraded Spartan Motors from a “b-” rating to a “c+” rating in a research note on Friday. Finally, Craig Hallum set a $12.00 target price on Spartan Motors and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Three analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.33.

Shares of SPAR stock traded up $0.28 during trading hours on Tuesday, hitting $7.45. 423,793 shares of the company’s stock were exchanged, compared to its average volume of 261,593. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.74 and a quick ratio of 1.22. The company has a market cap of $252.56 million, a price-to-earnings ratio of 17.33 and a beta of 1.35. Spartan Motors has a fifty-two week low of $6.70 and a fifty-two week high of $19.45.

Spartan Motors (NASDAQ:SPAR) last announced its earnings results on Wednesday, October 31st. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.08). The business had revenue of $226.18 million for the quarter, compared to analyst estimates of $227.27 million. Spartan Motors had a return on equity of 9.77% and a net margin of 2.04%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. Analysts anticipate that Spartan Motors will post 0.43 earnings per share for the current fiscal year.

In other news, Director Dominic A. Romeo acquired 20,000 shares of Spartan Motors stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average cost of $7.31 per share, with a total value of $146,200.00. Following the purchase, the director now owns 24,130 shares in the company, valued at $176,390.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Anthony Mascarenas acquired 15,000 shares of Spartan Motors stock in a transaction that occurred on Friday, November 2nd. The stock was purchased at an average cost of $7.35 per share, with a total value of $110,250.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $110,250. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 89,000 shares of company stock valued at $658,380. 4.22% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SPAR. Schwerin Boyle Capital Management Inc. raised its stake in Spartan Motors by 474.5% in the 3rd quarter. Schwerin Boyle Capital Management Inc. now owns 505,580 shares of the company’s stock valued at $7,457,000 after purchasing an additional 417,580 shares during the last quarter. Baird Financial Group Inc. acquired a new position in Spartan Motors in the 3rd quarter valued at $5,139,000. Allianz Asset Management GmbH raised its stake in Spartan Motors by 97.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 605,600 shares of the company’s stock valued at $8,933,000 after purchasing an additional 299,397 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Spartan Motors in the 3rd quarter valued at $3,083,000. Finally, Kirr Marbach & Co. LLC IN raised its stake in Spartan Motors by 659.1% in the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 227,537 shares of the company’s stock valued at $3,356,000 after purchasing an additional 197,563 shares during the last quarter. 69.19% of the stock is owned by hedge funds and other institutional investors.

Spartan Motors Company Profile

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, and sells heavy-duty and purpose-built specialty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.

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