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

StockNews.com began coverage on shares of SP Plus (NASDAQ:SP) in a report issued on Saturday morning. The firm issued a hold rating on the business services provider’s stock.

Separately, TheStreet downgraded SP Plus from a b rating to a c+ rating in a report on Tuesday, February 27th.

SP Plus Stock Down 0.1 %

Shares of SP Plus stock opened at $52.00 on Friday. SP Plus has a 1 year low of $32.78 and a 1 year high of $52.56. The business has a 50-day moving average of $51.68 and a two-hundred day moving average of $50.08. The company has a market capitalization of $1.03 billion, a P/E ratio of 33.33 and a beta of 1.22. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.71 and a quick ratio of 0.71.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.25). SP Plus had a return on equity of 22.49% and a net margin of 1.74%. The business had revenue of $217.20 million during the quarter, compared to the consensus estimate of $235.44 million. As a group, equities analysts predict that SP Plus will post 3.42 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new position in SP Plus during the first quarter valued at approximately $143,000. Bank of Montreal Can boosted its position in SP Plus by 10.8% during the first quarter. Bank of Montreal Can now owns 12,104 shares of the business services provider’s stock valued at $382,000 after purchasing an additional 1,181 shares during the last quarter. MetLife Investment Management LLC boosted its position in SP Plus by 55.9% during the first quarter. MetLife Investment Management LLC now owns 12,514 shares of the business services provider’s stock valued at $392,000 after purchasing an additional 4,488 shares during the last quarter. Sei Investments Co. boosted its position in SP Plus by 24.7% during the first quarter. Sei Investments Co. now owns 152,606 shares of the business services provider’s stock valued at $4,788,000 after purchasing an additional 30,186 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in SP Plus by 2.4% during the first quarter. Vanguard Group Inc. now owns 1,180,371 shares of the business services provider’s stock valued at $37,017,000 after purchasing an additional 28,176 shares during the last quarter. 93.98% of the stock is currently owned by 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.