Spartan Motors (NASDAQ:SPAR) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Spartan Motors (NASDAQ:SPAR) posted its quarterly earnings results on Thursday. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01), Morningstar.com reports. The company had revenue of $247.94 million during the quarter, compared to analysts’ expectations of $235.60 million. Spartan Motors had a return on equity of 8.21% and a net margin of 1.39%. Spartan Motors updated its FY19 guidance to $0.70-0.77 EPS.

Spartan Motors stock traded up $0.32 during midday trading on Friday, hitting $13.02. 363,385 shares of the company’s stock were exchanged, compared to its average volume of 172,581. The company has a current ratio of 1.69, a quick ratio of 1.14 and a debt-to-equity ratio of 0.20. Spartan Motors has a 12 month low of $6.70 and a 12 month high of $16.00. The business’s 50-day moving average price is $10.78. The firm has a market cap of $422.44 million, a P/E ratio of 27.13 and a beta of 1.55.

Several research analysts recently commented on SPAR shares. BidaskClub downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Roth Capital reiterated a “buy” rating on shares of Spartan Motors in a report on Friday, May 24th. ValuEngine upgraded shares of Spartan Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Zacks Investment Research cut shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Craig Hallum increased their target price on shares of Spartan Motors from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.00.

In other Spartan Motors news, insider Daryl M. Adams sold 12,500 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $9.51, for a total transaction of $118,875.00. Following the transaction, the insider now directly owns 677,175 shares in the company, valued at approximately $6,439,934.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 37,500 shares of company stock worth $375,250. 4.22% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in SPAR. Millennium Management LLC boosted its holdings in shares of Spartan Motors by 195.8% in the 4th quarter. Millennium Management LLC now owns 428,369 shares of the company’s stock valued at $3,097,000 after buying an additional 283,529 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Spartan Motors by 29.6% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 513,707 shares of the company’s stock valued at $4,536,000 after buying an additional 117,438 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Spartan Motors by 832.2% in the 1st quarter. Marshall Wace LLP now owns 118,609 shares of the company’s stock valued at $1,047,000 after buying an additional 105,886 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Spartan Motors by 99.9% in the 4th quarter. Deutsche Bank AG now owns 148,163 shares of the company’s stock valued at $1,069,000 after buying an additional 74,048 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Spartan Motors by 30.7% in the 4th quarter. Bank of New York Mellon Corp now owns 238,976 shares of the company’s stock valued at $1,728,000 after buying an additional 56,153 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

Spartan Motors Company Profile

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.

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Earnings History for Spartan Motors (NASDAQ:SPAR)

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