SP Plus (NASDAQ:SP) Coverage Initiated by Analysts at StockNews.com

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

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

SP Plus Price Performance

Shares of SP Plus stock opened at $51.00 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.71 and a quick ratio of 0.71. The business’s 50 day simple moving average is $51.62 and its two-hundred day simple moving average is $51.28. The stock has a market capitalization of $1.01 billion, a P/E ratio of 32.69 and a beta of 1.22. SP Plus has a one year low of $32.78 and a one year high of $52.56.

SP Plus (NASDAQ:SP) last announced 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 company had revenue of $217.20 million during the quarter, compared to analysts’ expectations of $235.44 million. SP Plus had a return on equity of 22.49% and a net margin of 1.74%. Analysts forecast that SP Plus will post 3.42 EPS for the current year.

Institutional Investors Weigh In On SP Plus

Several hedge funds have recently made changes to their positions in SP. Parallel Advisors LLC boosted its holdings in SP Plus by 868.4% in the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after acquiring an additional 495 shares in the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in SP Plus in the fourth quarter worth $61,000. Quest Partners LLC bought a new stake in SP Plus in the fourth quarter worth $73,000. Quantbot Technologies LP bought a new stake in SP Plus in the third quarter worth $101,000. Finally, SG Americas Securities LLC bought a new stake in SP Plus in the third quarter worth $108,000. 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.