Barrington Research set a $43.00 price objective on SP Plus (NASDAQ:SP) in a research report report published on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the business services provider’s stock.
SP has been the subject of a number of other reports. BidaskClub raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, July 4th. ValuEngine raised XPO Logistics from a strong sell rating to a sell rating in a research note on Thursday, April 4th. Finally, Zacks Investment Research downgraded Haynes International from a hold rating to a sell rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $43.00.
Shares of SP stock traded up $0.47 during trading hours on Friday, reaching $32.84. 65,738 shares of the company’s stock were exchanged, compared to its average volume of 111,360. The firm has a market cap of $750.53 million, a P/E ratio of 14.03, a P/E/G ratio of 1.26 and a beta of 1.06. The business’s 50 day simple moving average is $32.28. SP Plus has a 1 year low of $27.13 and a 1 year high of $41.35. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.58 and a current ratio of 0.58.
SP Plus (NASDAQ:SP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. The business had revenue of $409.40 million during the quarter, compared to the consensus estimate of $234.85 million. SP Plus had a return on equity of 15.92% and a net margin of 3.21%. Sell-side analysts forecast that SP Plus will post 2.61 EPS for the current fiscal year.
In related news, EVP Gerard M. Klaisle sold 1,060 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $35.00, for a total value of $37,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OLD Second National Bank of Aurora acquired a new stake in shares of SP Plus in the 1st quarter worth approximately $26,000. Investors Research Corp acquired a new stake in shares of SP Plus in the 1st quarter worth approximately $27,000. Public Employees Retirement System of Ohio grew its holdings in shares of SP Plus by 57.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,279 shares of the business services provider’s stock worth $38,000 after acquiring an additional 467 shares during the period. Legal & General Group Plc grew its holdings in shares of SP Plus by 18.2% in the 4th quarter. Legal & General Group Plc now owns 4,234 shares of the business services provider’s stock worth $125,000 after acquiring an additional 653 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of SP Plus by 561.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,712 shares of the business services provider’s stock worth $161,000 after acquiring an additional 4,000 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.
About SP Plus
SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.
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