Zacks Investment Research Downgrades Spartan Motors, Inc. (SPAR) to Hold

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.

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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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