Brokerages Set $45.50 Target Price for SP Plus Corp (SP)

Shares of SP Plus Corp (NASDAQ:SP) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy rating.

Analysts have set a 12 month consensus target price of $45.50 for the company and are predicting that the company will post $0.75 EPS for the current quarter, according to Zacks. Zacks has also assigned SP Plus an industry rank of 87 out of 256 based on the ratings given to its competitors.

A number of equities research analysts have issued reports on the stock. Barrington Research restated a “buy” rating and set a $43.00 price target on shares of SP Plus in a report on Friday, February 22nd. BidaskClub raised shares of SP Plus from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Zacks Investment Research lowered shares of SP Plus from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, ValuEngine lowered shares of SP Plus from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th.

NASDAQ:SP traded down $0.21 during trading hours on Monday, reaching $31.53. The company’s stock had a trading volume of 104,325 shares, compared to its average volume of 94,523. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.93. SP Plus has a one year low of $27.13 and a one year high of $41.35. The stock has a market capitalization of $720.57 million, a PE ratio of 13.47, a P/E/G ratio of 1.21 and a beta of 1.03.

SP Plus (NASDAQ:SP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.15. SP Plus had a net margin of 3.21% and a return on equity of 15.92%. The company had revenue of $409.40 million during the quarter, compared to analysts’ expectations of $234.85 million. On average, sell-side analysts forecast that SP Plus will post 2.61 earnings per share for the current fiscal year.

In related news, insider Robert Toy sold 2,500 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $33.04, for a total value of $82,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gerard M. Klaisle sold 1,060 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $35.00, for a total transaction of $37,100.00. The disclosure for this sale can be found here. Insiders have sold 3,760 shares of company stock valued at $126,700 in the last ninety days. 1.10% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. OLD Second National Bank of Aurora acquired a new position in SP Plus in the first quarter worth about $26,000. Investors Research Corp bought a new stake in SP Plus during the first quarter worth about $27,000. Advisor Group Inc. grew its stake in SP Plus by 163.9% during the first quarter. Advisor Group Inc. now owns 1,000 shares of the business services provider’s stock worth $35,000 after buying an additional 621 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in SP Plus by 57.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,279 shares of the business services provider’s stock worth $38,000 after buying an additional 467 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new stake in SP Plus during the fourth quarter worth about $58,000. 98.64% of the stock is owned by hedge funds and other institutional investors.

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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