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.

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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.

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