SP Plus (NASDAQ:SP) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of SP Plus (NASDAQ:SP) in a research report report published on Tuesday morning. 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 report on Tuesday, February 27th.

SP Plus Price Performance

SP opened at $51.06 on Tuesday. The company has a fifty day moving average price of $51.61 and a two-hundred day moving average price of $51.28. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.71. SP Plus has a 52 week low of $33.10 and a 52 week high of $52.56. The firm has a market capitalization of $1.01 billion, a PE ratio of 32.73 and a beta of 1.22.

SP Plus (NASDAQ:SP) last released its earnings results on Tuesday, February 27th. The business services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $235.44 million. As a group, analysts anticipate that SP Plus will post 3.42 earnings per share for the current year.

Hedge Funds Weigh In On SP Plus

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in shares of SP Plus by 3,883.2% during the fourth quarter. International Assets Investment Management LLC now owns 30,750 shares of the business services provider’s stock worth $1,576,000 after purchasing an additional 29,978 shares in the last quarter. LSV Asset Management boosted its position in shares of SP Plus by 31.8% during the third quarter. LSV Asset Management now owns 238,971 shares of the business services provider’s stock worth $8,627,000 after purchasing an additional 57,593 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of SP Plus by 510.4% during the third quarter. Assenagon Asset Management S.A. now owns 72,265 shares of the business services provider’s stock worth $2,609,000 after purchasing an additional 60,427 shares in the last quarter. Citigroup Inc. boosted its position in shares of SP Plus by 12.1% during the third quarter. Citigroup Inc. now owns 11,437 shares of the business services provider’s stock worth $413,000 after purchasing an additional 1,238 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of SP Plus during the third quarter worth $205,000. 93.98% of the stock is 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.