Zacks: Brokerages Set $38.00 Target Price for SP Plus Corp (NASDAQ:SP)
SP Plus Corp (NASDAQ:SP) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus price objective of $38.00 for the company and are predicting that the company will post ($0.14) earnings per share for the current quarter, according to Zacks. Zacks has also assigned SP Plus an industry rank of 181 out of 254 based on the ratings given to its competitors.
A number of research firms recently commented on SP. BidaskClub lowered SP Plus from a “hold” rating to a “sell” rating in a research note on Monday, June 15th. Barrington Research began coverage on shares of SP Plus in a research report on Thursday, May 28th. They issued a “buy” rating and a $36.00 price target on the stock. Zacks Investment Research upgraded shares of SP Plus from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. ValuEngine downgraded shares of SP Plus from a “hold” rating to a “sell” rating in a research note on Friday, March 20th. Finally, Sidoti cut their price target on shares of SP Plus from $52.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th.
Shares of NASDAQ:SP opened at $18.90 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.49 and a current ratio of 0.49. SP Plus has a 52 week low of $14.44 and a 52 week high of $47.33. The firm has a market cap of $444.07 million, a PE ratio of 6.97, a price-to-earnings-growth ratio of 1.55 and a beta of 1.25. The firm’s fifty day moving average is $20.67 and its 200-day moving average is $30.82.
SP Plus (NASDAQ:SP) last announced its earnings results on Thursday, May 7th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.07. SP Plus had a positive return on equity of 16.83% and a negative net margin of 0.47%. The business had revenue of $218.80 million during the quarter, compared to analyst estimates of $225.00 million. Sell-side analysts forecast that SP Plus will post 1.25 EPS for the current year.
SP Plus Company Profile
SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.
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