Spartan Motors (NASDAQ:SPAR) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
SPAR has been the topic of several other reports. Zacks Investment Research lowered shares of Spartan Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. Roth Capital lowered their price objective on shares of Spartan Motors from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Craig Hallum set a $12.00 price objective on shares of Spartan Motors and gave the stock a “buy” rating in a report on Wednesday, October 31st. ValuEngine downgraded shares of Spartan Motors from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Finally, TheStreet downgraded shares of Spartan Motors from a “b-” rating to a “c+” rating in a report on Friday, December 14th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.33.
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Shares of NASDAQ SPAR opened at $8.08 on Friday. The firm has a market cap of $284.21 million, a P/E ratio of 16.49 and a beta of 1.34. Spartan Motors has a 12-month low of $6.70 and a 12-month high of $19.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.22 and a current ratio of 1.74.
In other news, Director Thomas R. Clevinger bought 14,000 shares of the stock in a transaction dated Thursday, December 6th. The stock was bought at an average price of $7.47 per share, for a total transaction of $104,580.00. Following the completion of the acquisition, the director now directly owns 61,033 shares in the company, valued at approximately $455,916.51. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James A. Sharman bought 15,000 shares of the stock in a transaction dated Tuesday, December 4th. The stock was purchased at an average price of $7.64 per share, with a total value of $114,600.00. The disclosure for this purchase can be found here. Corporate insiders own 4.22% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. purchased a new stake in shares of Spartan Motors in the fourth quarter valued at about $125,000. United Services Automobile Association purchased a new stake in Spartan Motors during the second quarter worth about $187,000. New Jersey Better Educational Savings Trust purchased a new stake in Spartan Motors during the fourth quarter worth about $217,000. Engineers Gate Manager LP purchased a new stake in Spartan Motors during the third quarter worth about $286,000. Finally, Trellus Management Company LLC purchased a new stake in Spartan Motors during the third quarter worth about $295,000. Institutional investors own 69.08% of the company’s stock.
About Spartan Motors
Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, and sells heavy-duty and purpose-built specialty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.
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