ValuEngine upgraded shares of SP Plus (NASDAQ:SP) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Several other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of SP Plus from a hold rating to a sell rating in a report on Tuesday, November 6th. BidaskClub lowered shares of SP Plus from a hold rating to a sell rating in a report on Friday, September 14th. Barrington Research set a $43.00 price objective on shares of SP Plus and gave the stock a buy rating in a report on Wednesday, November 14th. Finally, Sidoti dropped their price objective on shares of SP Plus from $52.00 to $48.00 and set a buy rating for the company in a report on Wednesday, October 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $44.00.

NASDAQ SP opened at $33.25 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. SP Plus has a twelve month low of $27.13 and a twelve month high of $41.70. The stock has a market capitalization of $722.01 million, a P/E ratio of 19.56, a P/E/G ratio of 1.23 and a beta of 0.99.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Wednesday, October 31st. The business services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $362.10 million during the quarter, compared to analysts’ expectations of $190.74 million. SP Plus had a net margin of 3.50% and a return on equity of 14.51%. As a group, sell-side analysts anticipate that SP Plus will post 2.22 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ramsey Quantitative Systems increased its stake in SP Plus by 102.5% in the 3rd quarter. Ramsey Quantitative Systems now owns 4,539 shares of the business services provider’s stock valued at $166,000 after buying an additional 2,297 shares during the last quarter. Eagle Boston Investment Management Inc. increased its stake in SP Plus by 9.3% in the 3rd quarter. Eagle Boston Investment Management Inc. now owns 352,765 shares of the business services provider’s stock valued at $12,875,000 after buying an additional 30,067 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in SP Plus by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,185,125 shares of the business services provider’s stock valued at $43,257,000 after buying an additional 18,895 shares during the last quarter. Investment Counselors of Maryland LLC increased its stake in SP Plus by 5.3% in the 3rd quarter. Investment Counselors of Maryland LLC now owns 483,935 shares of the business services provider’s stock valued at $17,664,000 after buying an additional 24,328 shares during the last quarter. Finally, FIL Ltd increased its stake in shares of SP Plus by 20.0% during the 3rd quarter. FIL Ltd now owns 300,141 shares of the business services provider’s stock worth $10,955,000 after purchasing an additional 50,000 shares during the last quarter. 97.60% of the stock is currently owned by institutional investors.

About SP Plus

SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.

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