Spartan Motors Inc (NASDAQ:SPAR) was the target of a significant drop in short interest in December. As of December 29th, there was short interest totalling 311,900 shares, a drop of 49.3% from the December 15th total of 615,653 shares. Based on an average daily trading volume, of 404,710 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.0% of the company’s stock are short sold.
Several research firms recently weighed in on SPAR. BidaskClub cut shares of Spartan Motors from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research raised shares of Spartan Motors from a “sell” rating to a “hold” rating in a research note on Friday, January 5th. ValuEngine downgraded Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Sidoti initiated coverage on Spartan Motors in a report on Friday, December 1st. They set a “buy” rating for the company. Finally, TheStreet raised Spartan Motors from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $17.00.
Shares of Spartan Motors (NASDAQ SPAR) opened at $14.95 on Friday. Spartan Motors has a twelve month low of $6.30 and a twelve month high of $18.10. The stock has a market capitalization of $524.79, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 1.83 and a beta of 1.21. The company has a current ratio of 1.70, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.
Spartan Motors (NASDAQ:SPAR) last announced its quarterly 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). Spartan Motors had a net margin of 2.15% and a return on equity of 8.04%. The business had revenue of $189.22 million for the quarter, compared to analyst estimates of $185.30 million. During the same period in the prior year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. equities research analysts expect that Spartan Motors will post 0.41 earnings per share for the current fiscal year.
The firm also recently declared a Semi-Annual dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.05 per share. This represents a yield of 0.65%. The ex-dividend date was Tuesday, November 14th. Spartan Motors’s dividend payout ratio is 24.39%.
In related news, insider John W. Slawson sold 21,191 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $15.42, for a total value of $326,765.22. Following the completion of the transaction, the insider now directly owns 111,165 shares of the company’s stock, valued at $1,714,164.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.72% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in Spartan Motors by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,954,902 shares of the company’s stock valued at $32,652,000 after purchasing an additional 27,604 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Spartan Motors by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,462,364 shares of the company’s stock valued at $12,942,000 after purchasing an additional 77,653 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in Spartan Motors by 4.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,030,612 shares of the company’s stock valued at $11,388,000 after purchasing an additional 46,312 shares during the last quarter. Kennedy Capital Management Inc. lifted its holdings in shares of Spartan Motors by 215.1% during the second quarter. Kennedy Capital Management Inc. now owns 558,231 shares of the company’s stock worth $4,940,000 after buying an additional 381,045 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Spartan Motors by 11.6% during the second quarter. State Street Corp now owns 532,969 shares of the company’s stock worth $4,719,000 after buying an additional 55,350 shares in the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.
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About Spartan Motors
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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