SP Plus (NASDAQ:SP) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of SP Plus (NASDAQ:SP) in a research note issued to investors on Monday. The brokerage issued a hold rating on the business services provider’s stock.

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

SP Plus Stock Down 0.9 %

SP stock opened at $50.21 on Monday. The company has a market cap of $994.16 million, a price-to-earnings ratio of 32.19 and a beta of 1.22. SP Plus has a twelve month low of $32.78 and a twelve month high of $52.56. The business has a 50 day moving average price of $51.64 and a two-hundred day moving average price of $51.29. 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) last released its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.25). The company had revenue of $217.20 million during the quarter, compared to analyst estimates of $235.44 million. SP Plus had a net margin of 1.74% and a return on equity of 22.49%. Analysts anticipate that SP Plus will post 3.42 EPS for the current fiscal year.

Hedge Funds Weigh In On SP Plus

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in shares of 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 purchasing an additional 495 shares during the period. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of SP Plus during the fourth quarter worth $61,000. Quest Partners LLC acquired a new stake in shares of SP Plus during the fourth quarter worth $73,000. Quantbot Technologies LP acquired a new position in shares of SP Plus in the third quarter valued at about $101,000. Finally, SG Americas Securities LLC acquired a new position in shares of SP Plus in the third quarter valued at about $108,000. 93.98% of the stock is owned by institutional investors.

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.