SP Plus (NASDAQ:SP) Hits New 1-Year High at $53.90

SP Plus Co. (NASDAQ:SP - Get Free Report)'s share price hit a new 52-week high on Friday . The company traded as high as $53.90 and last traded at $53.30, with a volume of 914137 shares changing hands. The stock had previously closed at $51.37.

Wall Street Analyst Weigh In

A number of brokerages have commented on SP. TheStreet cut shares of SP Plus from a "b" rating to a "c+" rating in a report on Tuesday, February 27th. StockNews.com initiated coverage on SP Plus in a research note on Wednesday. They set a "hold" rating on the stock.

SP Plus Trading Up 4.1 %

The firm has a market cap of $1.06 billion, a PE ratio of 35.17 and a beta of 1.22. The company's 50 day moving average price is $51.62 and its two-hundred day moving average price is $51.32. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.34.

SP Plus (NASDAQ:SP - Get Free Report) last issued its earnings results on Tuesday, February 27th. The business services provider reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.25). The company had revenue of $217.20 million for the quarter, compared to analysts' expectations of $235.44 million. SP Plus had a return on equity of 22.21% and a net margin of 1.68%. As a group, sell-side analysts forecast that SP Plus Co. will post 3.26 EPS for the current year.

Institutional Investors Weigh In On SP Plus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in shares of SP Plus by 868.4% in the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider's stock worth $28,000 after purchasing an additional 495 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of SP Plus during the fourth quarter worth $61,000. Quest Partners LLC acquired a new position in SP Plus during the fourth quarter valued at $73,000. Quantbot Technologies LP purchased a new stake in SP Plus in the third quarter valued at $101,000. Finally, SG Americas Securities LLC acquired a new stake in SP Plus during the 3rd quarter worth about $108,000. 93.98% of the stock is currently owned by hedge funds and other institutional investors.

SP Plus Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.