SP Plus (NASDAQ:SP) Share Price Crosses Below 50 Day Moving Average of $30.20

Posted by on Jun 21st, 2022

Shares of SP Plus Co. (NASDAQ:SP – Get Rating) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $30.20 and traded as low as $28.32. SP Plus shares last traded at $28.47, with a volume of 2,672 shares changing hands.

SP has been the topic of a number of recent research reports. Barrington Research reissued an “outperform” rating and issued a $47.00 target price (up previously from $46.00) on shares of SP Plus in a report on Monday, May 16th. StockNews.com initiated coverage on SP Plus in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of SP Plus in a research note on Wednesday, February 23rd.

The firm has a market cap of $662.27 million, a PE ratio of 15.22 and a beta of 1.49. The firm has a fifty day simple moving average of $30.20 and a two-hundred day simple moving average of $29.22. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.62 and a current ratio of 0.62.

SP Plus (NASDAQ:SP – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The business services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.15. The business had revenue of $184.40 million during the quarter, compared to analysts’ expectations of $169.64 million. SP Plus had a return on equity of 22.25% and a net margin of 3.13%. Equities analysts forecast that SP Plus Co. will post 2.69 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Telemark Asset Management LLC boosted its holdings in SP Plus by 17.8% during the 1st quarter. Telemark Asset Management LLC now owns 1,001,000 shares of the business services provider’s stock valued at $31,391,000 after acquiring an additional 151,600 shares during the period. Rothschild & Co. Asset Management US Inc. boosted its holdings in SP Plus by 969.6% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 154,283 shares of the business services provider’s stock valued at $4,838,000 after acquiring an additional 139,859 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in SP Plus by 11.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,369,724 shares of the business services provider’s stock valued at $42,010,000 after acquiring an additional 138,049 shares during the period. Morgan Stanley boosted its holdings in SP Plus by 267.7% during the 2nd quarter. Morgan Stanley now owns 159,128 shares of the business services provider’s stock valued at $4,868,000 after acquiring an additional 115,851 shares during the period. Finally, Bernzott Capital Advisors boosted its holdings in SP Plus by 13.0% during the 1st quarter. Bernzott Capital Advisors now owns 979,929 shares of the business services provider’s stock valued at $30,731,000 after acquiring an additional 113,070 shares during the period. Hedge funds and other institutional investors own 87.28% of the company’s stock.

About SP Plus (NASDAQ:SP)

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.

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