Spartan Motors, Inc. (SPAR) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Spartan Motors, Inc. (NASDAQ:SPAR) issued its earnings results on Wednesday. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03), Bloomberg Earnings reports. The business had revenue of $189.22 million for the quarter, compared to the consensus estimate of $185.30 million. Spartan Motors had a net margin of 0.59% and a return on equity of 5.57%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. Spartan Motors updated its FY17 guidance to $0.40-0.42 EPS.
Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Spartan Motors from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Friday, October 20th. Roth Capital raised their price target on Spartan Motors from $12.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Craig Hallum set a $20.00 price target on Spartan Motors and gave the company a “buy” rating in a report on Friday, October 13th. BidaskClub cut Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, TheStreet cut Spartan Motors from a “b-” rating to a “c+” rating in a report on Thursday, August 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $17.00.
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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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