Spartan Motors Inc (NASDAQ:SPAR) shares rose 5.7% on Thursday . The company traded as high as $13.95 and last traded at $12.70, approximately 753,882 shares changed hands during mid-day trading. An increase of 340% from the average daily volume of 171,262 shares. The stock had previously closed at $12.02.
SPAR has been the subject of a number of recent analyst reports. Craig Hallum upped their price target on shares of Spartan Motors from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday. ValuEngine upgraded shares of Spartan Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Roth Capital reiterated a “buy” rating on shares of Spartan Motors in a research report on Friday, May 24th. BidaskClub lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Finally, Zacks Investment Research lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Spartan Motors has a consensus rating of “Hold” and an average price target of $15.00.
The company has a current ratio of 1.69, a quick ratio of 1.14 and a debt-to-equity ratio of 0.20. The firm has a 50-day simple moving average of $10.86. The company has a market cap of $424.92 million, a PE ratio of 27.13 and a beta of 1.54.
In related news, insider Daryl M. Adams sold 12,500 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $9.51, for a total transaction of $118,875.00. Following the completion of the transaction, the insider now owns 677,175 shares in the company, valued at $6,439,934.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 37,500 shares of company stock valued at $375,250. 4.22% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. Citigroup Inc. boosted its position in shares of Spartan Motors by 17.0% during the fourth quarter. Citigroup Inc. now owns 10,989 shares of the company’s stock worth $79,000 after acquiring an additional 1,593 shares during the last quarter. Summit Creek Advisors LLC lifted its position in Spartan Motors by 0.3% during the second quarter. Summit Creek Advisors LLC now owns 635,838 shares of the company’s stock valued at $6,969,000 after purchasing an additional 1,830 shares during the last quarter. Centaurus Financial Inc. lifted its position in Spartan Motors by 54.0% during the first quarter. Centaurus Financial Inc. now owns 8,182 shares of the company’s stock valued at $927,000 after purchasing an additional 2,868 shares during the last quarter. Aperio Group LLC bought a new position in Spartan Motors during the second quarter valued at $33,000. Finally, Trellus Management Company LLC lifted its position in Spartan Motors by 8.4% during the second quarter. Trellus Management Company LLC now owns 81,925 shares of the company’s stock valued at $898,000 after purchasing an additional 6,364 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.
Spartan Motors Company Profile (NASDAQ:SPAR)
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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