Spartan Motors (NASDAQ:SPAR) Stock Price Up 5.7%

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.

Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Thursday, August 1st. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). Spartan Motors had a return on equity of 8.21% and a net margin of 1.39%. The company had revenue of $247.94 million for the quarter, compared to the consensus estimate of $235.60 million. On average, equities analysts forecast that Spartan Motors Inc will post 0.74 EPS for the current fiscal year.

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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