Spartan Motors Inc (NASDAQ:SPAR) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $20.30 and last traded at $20.25, with a volume of 7340 shares. The stock had previously closed at $18.79.
Several analysts have issued reports on SPAR shares. Zacks Investment Research cut shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Thursday, January 2nd. ValuEngine upgraded shares of Spartan Motors from a “strong sell” rating to a “sell” rating in a research note on Thursday. TheStreet upgraded shares of Spartan Motors from a “c+” rating to a “b-” rating in a research note on Friday, October 18th. Finally, BidaskClub upgraded shares of Spartan Motors from a “hold” rating to a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $20.33.
The company’s 50-day moving average price is $17.91 and its two-hundred day moving average price is $15.69. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.19 and a current ratio of 1.72. The stock has a market cap of $701.85 million, a PE ratio of 42.11 and a beta of 1.47.
In other news, CEO Daryl M. Adams sold 12,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.20, for a total transaction of $227,500.00. Following the sale, the chief executive officer now owns 577,175 shares in the company, valued at approximately $10,504,585. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 37,500 shares of company stock worth $671,500. Corporate insiders own 3.78% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Millennium Management LLC purchased a new position in Spartan Motors in the 3rd quarter worth $7,134,000. California State Teachers Retirement System raised its position in Spartan Motors by 1.7% in the 3rd quarter. California State Teachers Retirement System now owns 53,470 shares of the company’s stock worth $734,000 after purchasing an additional 906 shares during the period. Centric Wealth Management purchased a new position in Spartan Motors in the 4th quarter worth $231,000. First Trust Advisors LP raised its position in Spartan Motors by 27.5% in the 3rd quarter. First Trust Advisors LP now owns 175,981 shares of the company’s stock worth $2,414,000 after purchasing an additional 37,923 shares during the period. Finally, GW&K Investment Management LLC raised its position in Spartan Motors by 41.1% in the 3rd quarter. GW&K Investment Management LLC now owns 524,922 shares of the company’s stock worth $7,202,000 after purchasing an additional 152,773 shares during the period. Hedge funds and other institutional investors own 72.49% of the company’s stock.
About Spartan Motors (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.
See Also: Understanding Stock Ratings
Receive News & Ratings for Spartan Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spartan Motors and related companies with MarketBeat.com's FREE daily email newsletter.