SP Plus - SP Stock Forecast, Price & News

SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. 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. The company also offers facility maintenance services, including power sweeping and washing, painting and general repairs, and cleaning and seasonal services; security services comprising training and hiring of security officers and patrol, as well as customized services and technology; and an online and mobile app consumer platform through parking.com website. In addition, it provides multi-platform marketing services, including SP+ branded websites that offer clients a platform for marketing their facilities, mobile applications, search marketing, email marketing, and social media campaigns. The company offers its services primarily under the SP+, Sphere, and Bags brands. It serves private and public owners, municipalities and governments, managers and developers of office buildings, residential properties, commercial properties, shopping centers and other retail properties, sports and special event complexes, hotels and resorts, healthcare facilities and medical centers, airlines, and cruise lines. The company was formerly known as Standard Parking Corporation and changed its name to SP Plus Corporation in December 2013. SP Plus Corporation was founded in 1929 and is headquartered in Chicago, Illinois.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SP shares. Barrington Research reiterated an "outperform" rating and issued a $47.00 price objective (up from $46.00) on shares of SP Plus in a report on Monday, May 16th. StockNews.com upgraded SP Plus from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 5th.

SP Plus Price Performance

NASDAQ:SP opened at $36.14 on Thursday. The company has a market capitalization of $840.69 million, a price-to-earnings ratio of 16.65 and a beta of 1.43. The company has a 50-day moving average of $31.87 and a 200-day moving average of $30.36. SP Plus has a 52 week low of $25.29 and a 52 week high of $37.17. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.62 and a current ratio of 0.62.

Insider Buying and Selling

In related news, CEO G Marc Baumann sold 2,000 shares of SP Plus stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $37.00, for a total transaction of $74,000.00. Following the completion of the transaction, the chief executive officer now directly owns 187,879 shares of the company's stock, valued at approximately $6,951,523. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.03% of the stock is owned by corporate insiders.