SP Plus Corp (NASDAQ:SP) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus price objective of $42.00 for the company and are predicting that the company will post $0.38 earnings per share for the current quarter, according to Zacks. Zacks has also assigned SP Plus an industry rank of 183 out of 265 based on the ratings given to its competitors.
SP has been the topic of a number of research reports. Zacks Investment Research lowered SP Plus from a “buy” rating to a “hold” rating in a report on Friday, January 5th. BidaskClub lowered SP Plus from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, Barrington Research reissued an “outperform” rating and set a $42.00 price target (up previously from $39.00) on shares of SP Plus in a report on Monday, March 5th.
In other SP Plus news, CEO G Marc Baumann sold 1,000 shares of SP Plus stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $35.50, for a total value of $35,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thomas L. Hagerman sold 833 shares of SP Plus stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $36.20, for a total value of $30,154.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,333 shares of company stock worth $389,780. Corporate insiders own 1.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its holdings in SP Plus by 1.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 157,076 shares of the business services provider’s stock valued at $5,828,000 after purchasing an additional 1,607 shares in the last quarter. Cypress Capital Management LLC WY lifted its position in shares of SP Plus by 12.7% during the 4th quarter. Cypress Capital Management LLC WY now owns 15,690 shares of the business services provider’s stock valued at $582,000 after acquiring an additional 1,765 shares during the period. First Trust Advisors LP lifted its position in shares of SP Plus by 13.0% during the 4th quarter. First Trust Advisors LP now owns 20,199 shares of the business services provider’s stock valued at $749,000 after acquiring an additional 2,331 shares during the period. Victory Capital Management Inc. lifted its position in shares of SP Plus by 9.0% during the 4th quarter. Victory Capital Management Inc. now owns 31,544 shares of the business services provider’s stock valued at $1,171,000 after acquiring an additional 2,605 shares during the period. Finally, Zions Bancorporation acquired a new stake in shares of SP Plus during the 3rd quarter valued at approximately $108,000. 96.02% of the stock is currently owned by institutional investors.
Shares of SP stock traded up $0.10 during mid-day trading on Friday, hitting $36.65. 64,179 shares of the stock were exchanged, compared to its average volume of 80,045. The firm has a market cap of $827.38, a price-to-earnings ratio of 21.56, a PEG ratio of 1.65 and a beta of 1.11. SP Plus has a 12-month low of $28.10 and a 12-month high of $41.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 0.85.
SP Plus (NASDAQ:SP) last issued its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $392.40 million for the quarter, compared to analyst estimates of $223.40 million. SP Plus had a return on equity of 12.87% and a net margin of 2.55%. research analysts predict that SP Plus will post 2.21 EPS for the current year.
About SP Plus
SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.
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