SP Plus (NASDAQ:SP - Get Rating) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Thursday.
Separately, Barrington Research increased their price target on SP Plus from $47.00 to $48.00 in a research note on Tuesday, August 23rd.
SP Plus Stock Performance
Shares of SP Plus stock traded down $0.10 during trading hours on Thursday, hitting $34.74. 73,147 shares of the company's stock traded hands, compared to its average volume of 113,895. SP Plus has a 12-month low of $25.29 and a 12-month high of $37.52. The stock has a market capitalization of $700.71 million, a price-to-earnings ratio of 15.04 and a beta of 1.40. The company has a fifty day simple moving average of $33.78 and a 200-day simple moving average of $32.72. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.67 and a quick ratio of 0.67.
Insiders Place Their Bets
In other SP Plus news, insider Robert Toy sold 5,000 shares of the firm's stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $34.66, for a total value of $173,300.00. Following the completion of the transaction, the insider now owns 48,355 shares in the company, valued at approximately $1,675,984.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.03% of the stock is owned by corporate insiders.
Institutional Trading of SP Plus
Large investors have recently modified their holdings of the business. Seelaus Asset Management LLC raised its holdings in shares of SP Plus by 2.2% during the 3rd quarter. Seelaus Asset Management LLC now owns 18,200 shares of the business services provider's stock valued at $570,000 after buying an additional 400 shares in the last quarter. Jump Financial LLC raised its holdings in shares of SP Plus by 3.7% during the 3rd quarter. Jump Financial LLC now owns 11,200 shares of the business services provider's stock valued at $351,000 after buying an additional 400 shares in the last quarter. Bard Associates Inc. raised its holdings in shares of SP Plus by 1.6% during the 2nd quarter. Bard Associates Inc. now owns 32,425 shares of the business services provider's stock valued at $996,000 after buying an additional 500 shares in the last quarter. Cornercap Investment Counsel Inc. raised its holdings in shares of SP Plus by 1.4% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 42,278 shares of the business services provider's stock valued at $1,326,000 after buying an additional 575 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of SP Plus by 5.9% during the 2nd quarter. Bank of Montreal Can now owns 12,819 shares of the business services provider's stock valued at $400,000 after buying an additional 715 shares in the last quarter. Institutional investors own 88.20% 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 firm operates through the following segments: Commercial, Aviation, and Other.
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