Spartan Motors, Inc. (NASDAQ:SPAR) Downgraded by Zacks Investment Research

Spartan Motors, Inc. (NASDAQ:SPAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday, November 4th.

According to Zacks, “Spartan is a leading designer, engineer and manufacturer of custom heavy-duty chassis. The Company’s chassis consist of a frame assembly, engine, transmission, electrical systems, running gear (wheels, tires, axles, suspension and brakes) and, for some applications, a cab. The Company’s customers are original equipment manufacturers (OEMs) who complete their vehicle product by mounting the body or apparatus on a Spartan chassis. “

Several other analysts have also recently issued reports on the stock. Craig Hallum set a $20.00 target price on shares of Spartan Motors and gave the company a “buy” rating in a research report on Friday, October 13th. BidaskClub cut shares of Spartan Motors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Roth Capital set a $12.00 target price on shares of Spartan Motors and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, TheStreet cut shares of Spartan Motors from a “b-” rating to a “c+” rating in a research report on Thursday, August 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Spartan Motors has a consensus rating of “Buy” and a consensus target price of $17.00.

Shares of Spartan Motors (NASDAQ SPAR) traded down $0.30 during midday trading on Friday, hitting $15.10. 345,500 shares of the stock traded hands, compared to its average volume of 225,084. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.70 and a quick ratio of 0.95. The stock has a market cap of $540.59, a PE ratio of 42.78, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. Spartan Motors has a 52-week low of $6.30 and a 52-week high of $17.20.

Spartan Motors (NASDAQ:SPAR) last announced its earnings results on Wednesday, November 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). The business had revenue of $189.22 million for the quarter, compared to analysts’ expectations of $185.30 million. Spartan Motors had a net margin of 2.15% and a return on equity of 8.04%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. equities analysts forecast that Spartan Motors will post 0.41 EPS for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of the stock. Algert Global LLC raised its position in Spartan Motors by 74.9% in the 3rd quarter. Algert Global LLC now owns 167,431 shares of the company’s stock worth $1,850,000 after purchasing an additional 71,725 shares during the period. Segall Bryant & Hamill LLC raised its position in Spartan Motors by 4.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,030,612 shares of the company’s stock worth $11,388,000 after purchasing an additional 46,312 shares during the period. Zuckerman Investment Group LLC purchased a new stake in Spartan Motors in the 3rd quarter worth about $2,850,000. Dimensional Fund Advisors LP raised its position in Spartan Motors by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,954,902 shares of the company’s stock worth $32,652,000 after purchasing an additional 27,604 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Spartan Motors by 29.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 73,087 shares of the company’s stock worth $819,000 after purchasing an additional 16,687 shares during the period. 64.75% of the stock is currently owned by institutional investors.

Spartan Motors Company Profile

Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.

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