SP Plus (NASDAQ:SP) Downgraded to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of SP Plus (NASDAQ:SP) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday, June 26th, BidAskClub reports.

Several other equities research analysts also recently issued reports on SP. ValuEngine upgraded shares of XPO Logistics from a strong sell rating to a sell rating in a research report on Thursday, April 4th. Zacks Investment Research downgraded shares of Haynes International from a hold rating to a sell rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. SP Plus currently has a consensus rating of Hold and an average price target of $42.67.

SP stock traded up $0.82 during trading hours on Wednesday, reaching $33.87. 56,861 shares of the stock were exchanged, compared to its average volume of 96,064. The company has a market cap of $756.91 million, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.27 and a beta of 1.06. The firm’s 50-day simple moving average is $32.42. 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 has a 12 month low of $27.13 and a 12 month high of $41.35.

SP Plus (NASDAQ:SP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.15. SP Plus had a return on equity of 15.92% and a net margin of 3.21%. The company had revenue of $409.40 million during the quarter, compared to analysts’ expectations of $234.85 million. Equities analysts expect that SP Plus will post 2.61 earnings per share for the current year.

In other SP Plus news, EVP Gerard M. Klaisle sold 1,060 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $35.00, for a total transaction of $37,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Several institutional investors have recently modified their holdings of SP. OLD Second National Bank of Aurora acquired a new position in SP Plus in the first quarter valued at $26,000. Investors Research Corp bought a new position in shares of SP Plus during the 1st quarter valued at approximately $27,000. Public Employees Retirement System of Ohio lifted its stake in shares of SP Plus by 57.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,279 shares of the business services provider’s stock valued at $38,000 after buying an additional 467 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of SP Plus by 18.2% during the 4th quarter. Legal & General Group Plc now owns 4,234 shares of the business services provider’s stock valued at $125,000 after buying an additional 653 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of SP Plus by 561.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,712 shares of the business services provider’s stock valued at $161,000 after buying an additional 4,000 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors.

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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