Spartan Motors Inc (NASDAQ:SPAR) Sees Significant Decline in Short Interest

Spartan Motors Inc (NASDAQ:SPAR) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 664,000 shares, a drop of 20.0% from the September 30th total of 830,400 shares. Based on an average daily volume of 208,900 shares, the short-interest ratio is presently 3.2 days. Approximately 2.1% of the shares of the stock are short sold.

In other Spartan Motors news, CEO Daryl M. Adams sold 12,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.88, for a total value of $148,500.00. Following the completion of the transaction, the chief executive officer now directly owns 627,175 shares of the company’s stock, valued at approximately $7,450,839. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 37,500 shares of company stock valued at $547,500. Insiders own 4.22% of the company’s stock.

A number of large investors have recently bought and sold shares of SPAR. BlackRock Inc. lifted its stake in shares of Spartan Motors by 2.0% in the second quarter. BlackRock Inc. now owns 2,332,562 shares of the company’s stock worth $25,565,000 after buying an additional 45,065 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Spartan Motors by 3.6% in the second quarter. Vanguard Group Inc. now owns 1,639,260 shares of the company’s stock worth $17,966,000 after buying an additional 56,871 shares in the last quarter. Zuckerman Investment Group LLC lifted its stake in shares of Spartan Motors by 1.4% in the second quarter. Zuckerman Investment Group LLC now owns 1,273,967 shares of the company’s stock worth $13,963,000 after buying an additional 17,680 shares in the last quarter. Centaurus Financial Inc. lifted its stake in shares of Spartan Motors by 12,223.0% in the second quarter. Centaurus Financial Inc. now owns 1,008,266 shares of the company’s stock worth $11,051,000 after buying an additional 1,000,084 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Spartan Motors by 82.1% in the second quarter. Wells Fargo & Company MN now owns 767,326 shares of the company’s stock worth $8,410,000 after buying an additional 346,055 shares in the last quarter. 71.31% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Spartan Motors from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research report on Tuesday, November 5th. BidaskClub upgraded shares of Spartan Motors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Sidoti raised their price objective on shares of Spartan Motors from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Craig Hallum raised their price objective on shares of Spartan Motors from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, TheStreet upgraded shares of Spartan Motors from a “c+” rating to a “b-” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Spartan Motors presently has an average rating of “Buy” and an average target price of $20.33.

NASDAQ:SPAR traded down $0.18 during trading hours on Friday, reaching $17.61. The company’s stock had a trading volume of 248,000 shares, compared to its average volume of 333,122. Spartan Motors has a 1 year low of $6.97 and a 1 year high of $19.31. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.19 and a current ratio of 1.72. The firm has a 50-day simple moving average of $15.45 and a 200-day simple moving average of $12.03. The firm has a market capitalization of $623.07 million, a price-to-earnings ratio of 36.69 and a beta of 1.43.

Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. Spartan Motors had a net margin of 1.70% and a return on equity of 11.81%. The business had revenue of $288.95 million for the quarter, compared to analyst estimates of $231.49 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Spartan Motors’s quarterly revenue was up 27.8% on a year-over-year basis. Equities analysts anticipate that Spartan Motors will post 0.89 earnings per share for the current fiscal year.

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 14th will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, November 13th. Spartan Motors’s payout ratio is currently 20.83%.

Spartan Motors Company Profile

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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Receive News & Ratings for Spartan Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spartan Motors and related companies with MarketBeat.com's FREE daily email newsletter.