Spartan Motors (SPAR) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Spartan Motors (NASDAQ:SPAR) from a hold rating to a sell rating in a report issued on Wednesday.

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. “

Other equities research analysts also recently issued research reports about the stock. TheStreet upgraded shares of Spartan Motors from a c+ rating to a b rating in a research report on Thursday, November 2nd. BidaskClub downgraded shares of Spartan Motors from a strong-buy rating to a buy rating in a research report on Saturday, December 30th. Seaport Global Securities restated a buy rating on shares of Spartan Motors in a research report on Tuesday, January 16th. Sidoti initiated coverage on shares of Spartan Motors in a research report on Friday, December 1st. They issued a buy rating for the company. Finally, ValuEngine downgraded shares of Spartan Motors from a buy rating to a hold rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $17.00.

Shares of Spartan Motors (NASDAQ SPAR) opened at $15.20 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.70 and a quick ratio of 0.95. The company has a market cap of $526.55, a P/E ratio of 37.07, a P/E/G ratio of 1.85 and a beta of 0.92. Spartan Motors has a 12-month low of $6.30 and a 12-month high of $18.10.

In other Spartan Motors news, insider John W. Slawson sold 21,191 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $15.42, for a total value of $326,765.22. Following the transaction, the insider now owns 111,165 shares in the company, valued at approximately $1,714,164.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.72% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas acquired a new position in Spartan Motors in the 4th quarter valued at approximately $179,000. Citadel Advisors LLC acquired a new position in Spartan Motors in the 4th quarter valued at approximately $226,000. Raymond James Financial Services Advisors Inc. acquired a new position in Spartan Motors in the 4th quarter valued at approximately $237,000. MetLife Investment Advisors LLC acquired a new position in Spartan Motors in the 4th quarter valued at approximately $282,000. Finally, Voya Investment Management LLC increased its stake in Spartan Motors by 18.9% in the 2nd quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock valued at $170,000 after buying an additional 3,049 shares during the period. Hedge funds and other institutional investors own 67.43% 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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