SP Plus (NASDAQ:SP) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of SP Plus (NASDAQ:SP) in a report issued on Friday. The brokerage set a “hold” rating on the business services provider’s stock.

SP Plus Price Performance

SP stock opened at $53.99 on Friday. The company has a 50 day simple moving average of $53.98 and a 200 day simple moving average of $52.42. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 35.52 and a beta of 1.22. SP Plus has a 1 year low of $34.17 and a 1 year high of $54.42. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.73 and a quick ratio of 0.73.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.06). SP Plus had a net margin of 1.68% and a return on equity of 21.93%. The business had revenue of $222.10 million during the quarter, compared to analyst estimates of $229.00 million. Research analysts anticipate that SP Plus will post 3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On SP Plus

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in SP Plus by 868.4% during the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after acquiring an additional 495 shares in the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new position in SP Plus during the fourth quarter worth $61,000. Quest Partners LLC acquired a new position in SP Plus during the fourth quarter worth $73,000. GAM Holding AG purchased a new stake in shares of SP Plus in the fourth quarter valued at about $256,000. Finally, Virtu Financial LLC purchased a new stake in shares of SP Plus in the first quarter valued at about $291,000. 93.98% of the stock is owned by institutional investors.

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.