SP Plus (SP) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of SP Plus (NASDAQ:SP) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded SP Plus from a hold rating to a buy rating and set a $43.00 target price for the company in a report on Saturday, November 4th. ValuEngine cut SP Plus from a buy rating to a hold rating in a report on Monday, October 2nd.

Shares of SP Plus (NASDAQ:SP) traded up $0.70 during trading on Friday, hitting $41.35. The stock had a trading volume of 190,012 shares, compared to its average volume of 113,939. The stock has a market cap of $915.47, a PE ratio of 21.54, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.50. SP Plus has a 12-month low of $27.05 and a 12-month high of $41.60.

SP Plus (NASDAQ:SP) last announced its earnings results on Wednesday, November 1st. The business services provider reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.08. The firm had revenue of $392.70 million during the quarter, compared to analysts’ expectations of $228.10 million. SP Plus had a return on equity of 14.29% and a net margin of 2.64%. equities analysts expect that SP Plus will post 1.7 EPS for the current year.

In related news, major shareholder Walter S. Woltosz sold 18,500 shares of the firm’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 document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of SP. Zions Bancorporation bought a new stake in shares of SP Plus during the 3rd quarter worth approximately $108,000. Legal & General Group Plc lifted its stake in shares of SP Plus by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock worth $129,000 after acquiring an additional 200 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of SP Plus during the 3rd quarter worth approximately $141,000. California Public Employees Retirement System bought a new stake in shares of SP Plus during the 2nd quarter worth approximately $214,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of SP Plus during the 2nd quarter worth approximately $221,000. 96.53% of the stock is owned by hedge funds and other institutional investors.

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SP Plus 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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