SP Plus (NASDAQ:SP) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of SP Plus (NASDAQ:SP) in a research note published on Friday. The brokerage issued a hold rating on the business services provider’s stock.

Separately, TheStreet downgraded SP Plus from a b rating to a c+ rating in a research note on Tuesday, February 27th.

SP Plus Stock Performance

Shares of SP Plus stock opened at $53.99 on Friday. The company has a market capitalization of $1.07 billion, a PE ratio of 35.52 and a beta of 1.22. SP Plus has a 12 month low of $34.17 and a 12 month high of $54.42. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.27. The stock’s fifty day simple moving average is $52.13 and its 200 day simple moving average is $51.60.

SP Plus (NASDAQ:SP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.06). The business had revenue of $222.10 million for the quarter, compared to analyst estimates of $229.00 million. SP Plus had a return on equity of 21.93% and a net margin of 1.68%. On average, research analysts predict that SP Plus will post 3.5 EPS for the current year.

Hedge Funds Weigh In On SP Plus

A number of large investors have recently added to or reduced their stakes in SP. Virtu Financial LLC bought a new position in shares of SP Plus in the 1st quarter valued at about $291,000. Murchinson Ltd. bought a new position in shares of SP Plus in the 1st quarter valued at about $4,156,000. Janus Henderson Group PLC grew its holdings in shares of SP Plus by 16.0% in the 1st quarter. Janus Henderson Group PLC now owns 289,789 shares of the business services provider’s stock valued at $15,115,000 after acquiring an additional 39,871 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of SP Plus by 13.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,598 shares of the business services provider’s stock valued at $293,000 after acquiring an additional 650 shares in the last quarter. Finally, Absolute Gestao de Investimentos Ltda. bought a new position in shares of SP Plus in the 1st quarter valued at about $20,741,000. Institutional investors own 93.98% of the company’s stock.

About SP Plus

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.