Spartan Motors, Inc. (NASDAQ:SPAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday, November 4th.
According to Zacks, “Spartan is a leading designer, engineer and manufacturer of custom heavy-duty chassis. The Company’s chassis consist of a frame assembly, engine, transmission, electrical systems, running gear (wheels, tires, axles, suspension and brakes) and, for some applications, a cab. The Company’s customers are original equipment manufacturers (OEMs) who complete their vehicle product by mounting the body or apparatus on a Spartan chassis. “
A number of other equities analysts also recently issued reports on SPAR. BidaskClub downgraded Spartan Motors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Roth Capital set a $12.00 price target on Spartan Motors and gave the stock a “buy” rating in a report on Tuesday, August 1st. TheStreet cut Spartan Motors from a “b-” rating to a “c+” rating in a report on Thursday, August 24th. Finally, Craig Hallum set a $20.00 price target on Spartan Motors and gave the stock a “buy” rating in a report on Friday, October 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $17.00.
Spartan Motors (NASDAQ SPAR) opened at $15.60 on Friday. Spartan Motors has a 1 year low of $6.30 and a 1 year high of $17.20. The company has a current ratio of 1.70, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $519.53, a PE ratio of 41.11, a PEG ratio of 2.43 and a beta of 1.23.
Spartan Motors (NASDAQ:SPAR) last posted its earnings results on Wednesday, November 1st. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). The firm had revenue of $189.22 million during the quarter, compared to analysts’ expectations of $185.30 million. Spartan Motors had a net margin of 2.15% and a return on equity of 8.04%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. equities research analysts predict that Spartan Motors will post 0.41 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Spartan Motors by 0.8% during the first quarter. Vanguard Group Inc. now owns 1,384,711 shares of the company’s stock worth $11,078,000 after purchasing an additional 11,102 shares during the last quarter. Morgan Stanley raised its position in shares of Spartan Motors by 11.9% in the 1st quarter. Morgan Stanley now owns 197,236 shares of the company’s stock worth $1,577,000 after buying an additional 20,913 shares during the period. Victory Capital Management Inc. raised its position in shares of Spartan Motors by 10.1% in the 2nd quarter. Victory Capital Management Inc. now owns 148,850 shares of the company’s stock worth $1,317,000 after buying an additional 13,655 shares during the period. Wells Fargo & Company MN raised its position in shares of Spartan Motors by 202.2% in the 1st quarter. Wells Fargo & Company MN now owns 66,435 shares of the company’s stock worth $531,000 after buying an additional 44,453 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Spartan Motors in the 2nd quarter worth $495,000. Institutional investors and hedge funds own 64.75% of the company’s stock.
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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