SP Plus (NASDAQ:SP) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of SP Plus (NASDAQ:SP) in a report released on Monday. The brokerage issued a hold rating on the business services provider’s stock.

Separately, TheStreet downgraded shares of SP Plus from a b rating to a c+ rating in a research report on Tuesday, February 27th.

SP Plus Trading Down 0.2 %

SP Plus stock opened at $51.00 on Monday. The firm’s 50-day moving average is $51.62 and its 200-day moving average is $51.28. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.71. SP Plus has a 1 year low of $32.78 and a 1 year high of $52.56. The company has a market cap of $1.01 billion, a P/E ratio of 32.69 and a beta of 1.22.

SP Plus (NASDAQ:SP) last issued its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.25). The firm had revenue of $217.20 million during the quarter, compared to the consensus estimate of $235.44 million. SP Plus had a net margin of 1.74% and a return on equity of 22.49%. On average, equities analysts expect that SP Plus will post 3.42 earnings per share for the current year.

Institutional Investors Weigh In On SP Plus

Several institutional investors and hedge funds have recently bought and sold shares of SP. Parallel Advisors LLC grew its holdings in shares of SP Plus by 868.4% in the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after purchasing an additional 495 shares during the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of SP Plus in the 4th quarter worth about $61,000. Quest Partners LLC bought a new stake in shares of SP Plus in the 4th quarter worth about $73,000. Quantbot Technologies LP bought a new stake in shares of SP Plus in the 3rd quarter worth about $101,000. Finally, SG Americas Securities LLC bought a new stake in shares of SP Plus in the 3rd quarter worth about $108,000. Institutional investors own 93.98% of the company’s stock.

About SP Plus

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.