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

Equities research analysts at StockNews.com assumed coverage on shares of SP Plus (NASDAQ:SP) in a research note issued on Saturday. The brokerage set a “hold” rating on the business services provider’s stock.

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

SP Plus Stock Down 0.1 %

NASDAQ SP 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 company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.34. The stock’s 50 day moving average is $51.68 and its two-hundred day moving average is $49.98. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 33.33 and a beta of 1.22.

SP Plus (NASDAQ:SP) last released its quarterly 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). The firm 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%. Equities analysts forecast that SP Plus will post 3.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SP Plus

Several institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC increased its stake in shares of SP Plus by 868.4% in the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 495 shares during the last quarter. International Assets Investment Management LLC bought a new stake in SP Plus in the third quarter valued at approximately $28,000. Dark Forest Capital Management LP acquired a new stake in shares of SP Plus during the first quarter worth $27,000. Tower Research Capital LLC TRC raised its position in shares of SP Plus by 75.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,004 shares of the business services provider’s stock worth $39,000 after acquiring an additional 433 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of SP Plus during the 4th quarter worth approximately $61,000. 93.98% of the stock is currently owned by institutional investors and hedge funds.

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.