Roth Capital Increases Spartan Motors, Inc. (NASDAQ:SPAR) Price Target to $20.00

Spartan Motors, Inc. (NASDAQ:SPAR) had its price objective upped by equities research analysts at Roth Capital from $12.00 to $20.00 in a report released on Tuesday, October 17th. The firm presently has a “buy” rating on the stock. Roth Capital’s price objective indicates a potential upside of 35.14% from the stock’s current price.

Several other research firms have also recently issued reports on SPAR. Zacks Investment Research cut Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub cut Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. TheStreet cut Spartan Motors from a “b-” rating to a “c+” rating in a report on Thursday, August 24th. Finally, Craig Hallum set a $20.00 target price on Spartan Motors and gave the company a “buy” rating in a report on Friday, October 13th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Spartan Motors currently has an average rating of “Buy” and an average price target of $17.00.

Spartan Motors (SPAR) traded down $0.50 during mid-day trading on Tuesday, hitting $14.80. The stock had a trading volume of 221,942 shares, compared to its average volume of 471,721. Spartan Motors has a 1-year low of $6.30 and a 1-year high of $17.20. The company has a quick ratio of 0.95, a current ratio of 1.70 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $537.08, a PE ratio of 42.50, a price-to-earnings-growth ratio of 2.49 and a beta of 1.23.

Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings data 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). Spartan Motors had a return on equity of 8.04% and a net margin of 2.15%. The business had revenue of $189.22 million for the quarter, compared to analyst estimates of $185.30 million. During the same quarter last year, the business earned $0.10 EPS. Spartan Motors’s revenue for the quarter was up 27.3% compared to the same quarter last year. sell-side analysts forecast that Spartan Motors will post 0.41 EPS for the current year.

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A number of institutional investors have recently modified their holdings of SPAR. Ameriprise Financial Inc. boosted its holdings in Spartan Motors by 501.6% in the second quarter. Ameriprise Financial Inc. now owns 470,789 shares of the company’s stock valued at $4,166,000 after acquiring an additional 392,528 shares during the last quarter. Kennedy Capital Management Inc. boosted its holdings in Spartan Motors by 215.1% in the second quarter. Kennedy Capital Management Inc. now owns 558,231 shares of the company’s stock valued at $4,940,000 after acquiring an additional 381,045 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Spartan Motors by 248.3% in the first quarter. AQR Capital Management LLC now owns 427,651 shares of the company’s stock valued at $3,421,000 after acquiring an additional 304,854 shares during the last quarter. First Trust Advisors LP acquired a new position in Spartan Motors in the third quarter valued at $1,378,000. Finally, Silver Capital Management LLC acquired a new position in Spartan Motors in the third quarter valued at $1,371,000. Hedge funds and other institutional investors own 66.64% of the company’s stock.

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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