SP Plus Corporation (NASDAQ:SP) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Monday.

A number of other research analysts have also commented on the company. Zacks Investment Research lowered SP Plus Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub upgraded SP Plus Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th.

SP Plus Corporation (SP) traded up 2.15% during trading on Monday, reaching $40.35. 248,855 shares of the company’s stock traded hands. The company has a market capitalization of $908.20 million, a price-to-earnings ratio of 23.46 and a beta of 0.99. The firm’s 50 day moving average is $37.32 and its 200-day moving average is $33.23. SP Plus Corporation has a 12 month low of $22.60 and a 12 month high of $40.35.

SP Plus Corporation (NASDAQ:SP) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.11. SP Plus Corporation had a return on equity of 13.82% and a net margin of 2.36%. The business had revenue of $415.40 million during the quarter, compared to analysts’ expectations of $223.35 million. Analysts expect that SP Plus Corporation will post $1.69 EPS for the current fiscal year.

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In other news, Director Robert S. Roath sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $34.77, for a total value of $2,433,900.00. Following the transaction, the director now owns 36,936 shares of the company’s stock, valued at approximately $1,284,264.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Several institutional investors have recently modified their holdings of SP. US Bancorp DE lifted its stake in shares of SP Plus Corporation by 2.7% in the 1st quarter. US Bancorp DE now owns 3,229 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 84 shares during the period. Ngam Advisors L.P. boosted its position in shares of SP Plus Corporation by 0.6% in the 1st quarter. Ngam Advisors L.P. now owns 18,234 shares of the business services provider’s stock worth $615,000 after purchasing an additional 108 shares during the last quarter. Atria Investments LLC boosted its position in shares of SP Plus Corporation by 1.5% in the 2nd quarter. Atria Investments LLC now owns 9,425 shares of the business services provider’s stock worth $288,000 after purchasing an additional 143 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of SP Plus Corporation by 1.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,989 shares of the business services provider’s stock worth $428,000 after purchasing an additional 197 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of SP Plus Corporation by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock worth $129,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 94.68% of the company’s stock.

About SP Plus Corporation

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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