Shares of Spartan Motors Inc (NASDAQ:SPAR) have earned an average recommendation of “Hold” from the six analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.00.
A number of brokerages recently commented on SPAR. BidaskClub downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Roth Capital reaffirmed a “buy” rating on shares of Spartan Motors in a research report on Friday, May 24th.
In related news, insider Daryl M. Adams sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $9.51, for a total transaction of $118,875.00. Following the transaction, the insider now directly owns 677,175 shares of the company’s stock, valued at $6,439,934.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.78% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its position in Spartan Motors by 54,830.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,141 shares of the company’s stock valued at $63,000 after purchasing an additional 7,128 shares during the period. Citigroup Inc. raised its holdings in shares of Spartan Motors by 17.0% in the 4th quarter. Citigroup Inc. now owns 10,989 shares of the company’s stock valued at $79,000 after acquiring an additional 1,593 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Spartan Motors by 374.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,765 shares of the company’s stock valued at $85,000 after acquiring an additional 9,283 shares in the last quarter. Oxford Asset Management LLP purchased a new stake in shares of Spartan Motors in the 1st quarter valued at about $112,000. Finally, Zebra Capital Management LLC purchased a new stake in shares of Spartan Motors in the 1st quarter valued at about $117,000. 70.07% of the stock is owned by institutional investors.
SPAR traded up $0.30 on Wednesday, reaching $8.93. 137,800 shares of the company traded hands, compared to its average volume of 151,597. Spartan Motors has a 52-week low of $6.70 and a 52-week high of $16.10. The company has a market capitalization of $300.84 million, a PE ratio of 18.58 and a beta of 1.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.14 and a current ratio of 1.69.
Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. Spartan Motors had a net margin of 1.39% and a return on equity of 8.21%. The firm had revenue of $234.00 million for the quarter, compared to the consensus estimate of $204.90 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue was up 35.3% on a year-over-year basis. On average, equities analysts forecast that Spartan Motors will post 0.61 earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 17th will be given a dividend of $0.05 per share. This represents a yield of 1.05%. The ex-dividend date of this dividend is Thursday, May 16th. Spartan Motors’s payout ratio is presently 20.83%.
About Spartan Motors
Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty 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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