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

Investment analysts at StockNews.com began coverage on shares of SP Plus (NASDAQ:SP) in a report issued on Wednesday. The brokerage set a “hold” rating on the business services provider’s stock.

SP Plus Price Performance

NASDAQ:SP opened at $53.99 on Wednesday. SP Plus has a 12-month low of $34.17 and a 12-month high of $54.42. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 35.52 and a beta of 1.22. The stock’s 50 day moving average price is $53.33 and its two-hundred day moving average price is $52.18. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.27.

SP Plus (NASDAQ:SP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.06). The company had revenue of $222.10 million during the quarter, compared to analyst estimates of $229.00 million. SP Plus had a net margin of 1.68% and a return on equity of 21.93%. On average, analysts anticipate that SP Plus will post 3.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SP. Citigroup Inc. grew its position in shares of SP Plus by 12.1% during the 3rd 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. Moody National Bank Trust Division lifted its stake in SP Plus by 22.9% during the fourth quarter. Moody National Bank Trust Division now owns 28,676 shares of the business services provider’s stock worth $1,470,000 after purchasing an additional 5,334 shares during the last quarter. GAM Holding AG acquired a new stake in shares of SP Plus in the 4th quarter valued at $256,000. International Assets Investment Management LLC increased its stake in shares of SP Plus by 3,883.2% in the 4th quarter. International Assets Investment Management LLC now owns 30,750 shares of the business services provider’s stock valued at $1,576,000 after purchasing an additional 29,978 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of SP Plus during the 4th quarter worth $879,000. Institutional investors and hedge funds own 93.98% of the company’s stock.

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.