SP Plus (NASDAQ:SP) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of SP Plus (NASDAQ:SPGet Free Report) in a research note issued on Thursday. The firm set a “hold” rating on the business services provider’s stock.

SP Plus Price Performance

Shares of NASDAQ SP opened at $53.99 on Thursday. The firm has a market cap of $1.07 billion, a P/E ratio of 35.52 and a beta of 1.22. SP Plus has a twelve month low of $34.17 and a twelve month high of $54.42. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.27. The company has a 50 day moving average of $53.67 and a 200 day moving average of $52.29.

SP Plus (NASDAQ:SPGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.06). SP Plus had a net margin of 1.68% and a return on equity of 21.93%. The business had revenue of $222.10 million for the quarter, compared to analysts’ expectations of $229.00 million. As a group, research analysts expect that SP Plus will post 3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On SP Plus

A number of large investors have recently added to or reduced their stakes in SP. Virtu Financial LLC bought a new stake in shares of SP Plus during the 1st quarter valued at $291,000. Murchinson Ltd. purchased a new stake in SP Plus in the 1st quarter worth approximately $4,156,000. Janus Henderson Group PLC raised its stake in SP Plus by 16.0% during the 1st quarter. Janus Henderson Group PLC now owns 289,789 shares of the business services provider’s stock worth $15,115,000 after acquiring an additional 39,871 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in SP Plus by 13.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,598 shares of the business services provider’s stock valued at $293,000 after purchasing an additional 650 shares in the last quarter. Finally, Absolute Gestao de Investimentos Ltda. purchased a new stake in shares of SP Plus in the first quarter worth $20,741,000. Institutional investors own 93.98% of the company’s stock.

About SP Plus

(Get Free Report)

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.

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