Spartan Motors Inc (SPAR) Rating Increased to Buy at Zacks Investment Research
Spartan Motors Inc (NASDAQ:SPAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The brokerage currently has a $9.75 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 9.55% from the company’s previous close.
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. “
Several other brokerages have also issued reports on SPAR. BidaskClub lowered Spartan Motors from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. TheStreet raised Spartan Motors from a “c” rating to a “b-” rating in a research report on Monday, May 15th. Finally, Roth Capital set a $12.00 price target on Spartan Motors and gave the stock a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.58.
Shares of Spartan Motors (NASDAQ:SPAR) opened at 8.90 on Friday. Spartan Motors has a 1-year low of $6.30 and a 1-year high of $10.50. The company has a market cap of $312.33 million, a PE ratio of 83.18 and a beta of 1.11. The firm has a 50-day moving average price of $8.90 and a 200 day moving average price of $8.28.
Spartan Motors (NASDAQ:SPAR) last announced its earnings results on Thursday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Spartan Motors had a return on equity of 2.95% and a net margin of 0.66%. The firm had revenue of $169.70 million during the quarter, compared to analyst estimates of $167.83 million. During the same quarter in the prior year, the company earned $0.19 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Spartan Motors will post $0.50 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: This article was first published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://theolympiareport.com/2017/08/28/spartan-motors-inc-spar-rating-increased-to-buy-at-zacks-investment-research.html.
Several hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in Spartan Motors by 501.6% in the second quarter. Ameriprise Financial Inc. now owns 470,789 shares of the company’s stock valued at $4,166,000 after buying an additional 392,528 shares during the last quarter. Kennedy Capital Management Inc. increased its stake in Spartan Motors by 215.1% in the second quarter. Kennedy Capital Management Inc. now owns 558,231 shares of the company’s stock valued at $4,940,000 after buying an additional 381,045 shares during the last quarter. AQR Capital Management LLC increased its stake in Spartan Motors by 248.3% in the first quarter. AQR Capital Management LLC now owns 427,651 shares of the company’s stock valued at $3,421,000 after buying an additional 304,854 shares during the last quarter. Heartland Advisors Inc. increased its stake in Spartan Motors by 40.0% in the first quarter. Heartland Advisors Inc. now owns 700,000 shares of the company’s stock valued at $5,600,000 after buying an additional 200,000 shares during the last quarter. Finally, Oxford Asset Management bought a new stake in Spartan Motors during the first quarter valued at $1,555,000. Institutional investors own 64.72% of the company’s stock.
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.
Receive News & Ratings for Spartan Motors Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spartan Motors Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.