SP Plus (NASDAQ:SP) Upgraded to “Hold” by BidaskClub

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BidaskClub upgraded shares of SP Plus (NASDAQ:SP) from a sell rating to a hold rating in a research note released on Thursday morning, BidAskClub reports.

A number of other equities analysts have also recently issued reports on the company. Barrington Research increased their price target on SP Plus from $43.00 to $51.00 in a report on Wednesday, November 6th. ValuEngine cut SP Plus from a sell rating to a strong sell rating in a report on Tuesday, February 4th. Finally, Zacks Investment Research cut SP Plus from a buy rating to a hold rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $51.33.

Shares of SP Plus stock traded down $2.73 on Thursday, reaching $38.27. 180,521 shares of the company’s stock were exchanged, compared to its average volume of 93,047. The company has a market capitalization of $1.07 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.55 and a beta of 0.95. SP Plus has a 52 week low of $30.66 and a 52 week high of $47.33. The firm’s 50-day moving average is $42.23 and its two-hundred day moving average is $40.23. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.58 and a current ratio of 0.58.

SP Plus (NASDAQ:SP) last posted its quarterly earnings results on Wednesday, February 19th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The business had revenue of $231.90 million for the quarter, compared to the consensus estimate of $234.50 million. SP Plus had a return on equity of 15.96% and a net margin of 2.93%. On average, analysts expect that SP Plus will post 3.01 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of SP. P2 Capital Partners LLC raised its position in SP Plus by 7.4% in the 4th quarter. P2 Capital Partners LLC now owns 1,229,232 shares of the business services provider’s stock valued at $52,156,000 after buying an additional 85,014 shares during the last quarter. Bernzott Capital Advisors raised its position in SP Plus by 3.0% in the 4th quarter. Bernzott Capital Advisors now owns 889,211 shares of the business services provider’s stock valued at $37,729,000 after buying an additional 25,910 shares during the last quarter. Renaissance Technologies LLC raised its position in SP Plus by 13.7% in the 4th quarter. Renaissance Technologies LLC now owns 617,900 shares of the business services provider’s stock valued at $26,217,000 after buying an additional 74,300 shares during the last quarter. Investment Counselors of Maryland LLC raised its position in SP Plus by 1.7% in the 4th quarter. Investment Counselors of Maryland LLC now owns 610,160 shares of the business services provider’s stock valued at $25,889,000 after buying an additional 10,179 shares during the last quarter. Finally, State Street Corp raised its position in SP Plus by 2.0% in the 4th quarter. State Street Corp now owns 495,683 shares of the business services provider’s stock valued at $21,032,000 after buying an additional 9,903 shares during the last quarter. Institutional investors own 93.29% of the company’s stock.

SP Plus Company Profile

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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