SP Plus Corporation (SP) Cut to “Hold” at BidaskClub

BidaskClub cut shares of SP Plus Corporation (NASDAQ:SP) from a buy rating to a hold rating in a research note published on Saturday, November 4th.

Several other analysts have also issued reports on the company. ValuEngine lowered SP Plus Corporation from a buy rating to a hold rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded SP Plus Corporation from a buy rating to a hold rating in a research report on Wednesday, July 12th.

SP Plus Corporation (NASDAQ SP) traded up $0.15 on Friday, reaching $38.95. 127,600 shares of the company’s stock were exchanged, compared to its average volume of 148,133. The stock has a market cap of $877.18, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. SP Plus Corporation has a 1 year low of $27.05 and a 1 year high of $41.25. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.50.

SP Plus Corporation (NASDAQ:SP) last announced its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.08. SP Plus Corporation had a return on equity of 14.29% and a net margin of 2.64%. The business had revenue of $392.70 million for the quarter, compared to analysts’ expectations of $228.10 million. sell-side analysts forecast that SP Plus Corporation will post 1.7 EPS for the current fiscal year.

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In related news, major shareholder Walter S. Woltosz sold 18,500 shares of the company’s stock in a transaction that occurred on Saturday, October 28th. The stock was sold at an average price of $16.37, for a total transaction of $302,845.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of SP Plus Corporation in the third quarter worth $337,000. GSA Capital Partners LLP grew its stake in shares of SP Plus Corporation by 30.1% in the third quarter. GSA Capital Partners LLP now owns 20,507 shares of the business services provider’s stock worth $810,000 after acquiring an additional 4,747 shares during the last quarter. Algert Global LLC grew its stake in shares of SP Plus Corporation by 14.6% in the third quarter. Algert Global LLC now owns 74,000 shares of the business services provider’s stock worth $2,923,000 after acquiring an additional 9,430 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of SP Plus Corporation in the third quarter worth $366,000. Finally, Zions Bancorporation purchased a new stake in shares of SP Plus Corporation in the third quarter worth $108,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

SP Plus Corporation Company Profile

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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