Spartan Motors (NASDAQ:SPAR) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.
A number of other analysts have also weighed in on SPAR. TheStreet upgraded shares of Spartan Motors from a “c+” rating to a “b-” rating in a report on Friday, October 18th. Zacks Investment Research cut Spartan Motors from a “buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, BidaskClub upgraded Spartan Motors from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $20.33.
Shares of Spartan Motors stock opened at $20.21 on Thursday. The company’s fifty day simple moving average is $17.91 and its two-hundred day simple moving average is $15.69. Spartan Motors has a 12-month low of $8.22 and a 12-month high of $20.70. The firm has a market cap of $701.85 million, a PE ratio of 42.11 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 1.72 and a debt-to-equity ratio of 0.71.
In related news, CEO Daryl M. Adams sold 12,500 shares of Spartan Motors stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.20, for a total value of $227,500.00. Following the sale, the chief executive officer now owns 577,175 shares in the company, valued at $10,504,585. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 37,500 shares of company stock valued at $671,500 in the last ninety days. 3.78% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC lifted its holdings in shares of Spartan Motors by 39.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 27,080 shares of the company’s stock valued at $490,000 after purchasing an additional 7,670 shares in the last quarter. Manatuck Hill Partners LLC increased its holdings in Spartan Motors by 35.8% in the 4th quarter. Manatuck Hill Partners LLC now owns 583,532 shares of the company’s stock worth $10,550,000 after buying an additional 153,829 shares in the last quarter. Castleark Management LLC bought a new stake in Spartan Motors in the 4th quarter worth about $4,870,000. AQR Capital Management LLC bought a new stake in Spartan Motors in the 4th quarter worth about $613,000. Finally, UBS Asset Management Americas Inc. raised its position in Spartan Motors by 14.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 39,265 shares of the company’s stock worth $710,000 after buying an additional 4,979 shares during the last quarter. 72.49% of the stock is currently owned by institutional investors and hedge funds.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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