SP Plus (NASDAQ:SP) Now Covered by StockNews.com

StockNews.com started coverage on shares of SP Plus (NASDAQ:SP) in a report issued on Tuesday morning. The firm issued a hold rating on the business services provider’s stock.

Separately, TheStreet cut SP Plus from a b rating to a c+ rating in a research note on Tuesday, February 27th.

SP Plus Price Performance

SP Plus stock opened at $53.99 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.73 and a quick ratio of 0.73. The company’s 50-day moving average is $53.19 and its 200-day moving average is $52.12. The firm has a market capitalization of $1.07 billion, a PE ratio of 35.52 and a beta of 1.22. SP Plus has a fifty-two week low of $34.17 and a fifty-two week high of $54.42.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.06). The business had revenue of $222.10 million for the quarter, compared to analyst estimates of $229.00 million. SP Plus had a return on equity of 21.93% and a net margin of 1.68%. Sell-side analysts anticipate that SP Plus will post 3.5 earnings per share for the current year.

Institutional Investors Weigh In On SP Plus

A number of institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in SP Plus by 868.4% during the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after acquiring an additional 495 shares during the period. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of SP Plus during the 4th quarter worth approximately $61,000. Quest Partners LLC bought a new position in shares of SP Plus during the fourth quarter worth approximately $73,000. GAM Holding AG acquired a new stake in shares of SP Plus in the fourth quarter valued at approximately $256,000. Finally, Virtu Financial LLC bought a new stake in shares of SP Plus in the first quarter valued at approximately $291,000. Institutional investors own 93.98% of the company’s stock.

About SP Plus

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.