SP Plus Co. (NASDAQ:SP – Get Rating) – Investment analysts at Barrington Research cut their Q2 2022 EPS estimates for SP Plus in a report issued on Monday, May 16th. Barrington Research analyst K. Steinke now anticipates that the business services provider will earn $0.71 per share for the quarter, down from their previous estimate of $0.72. Barrington Research currently has a “Outperform” rating and a $47.00 target price on the stock. Barrington Research also issued estimates for SP Plus’ Q3 2022 earnings at $0.73 EPS, Q4 2022 earnings at $0.70 EPS, FY2022 earnings at $2.75 EPS and FY2023 earnings at $2.98 EPS.
Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday, May 11th. StockNews.com started coverage on shares of SP Plus in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, William Blair reiterated an “outperform” rating on shares of SP Plus in a research report on Wednesday, February 23rd. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $39.50.
SP Plus stock opened at $30.04 on Tuesday. SP Plus has a 52 week low of $25.29 and a 52 week high of $34.99. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.34. The firm’s 50-day simple moving average is $30.08 and its 200 day simple moving average is $29.29. The firm has a market capitalization of $698.79 million, a PE ratio of 16.06 and a beta of 1.50.
SP Plus (NASDAQ:SP – Get Rating) last released its quarterly earnings data on Wednesday, February 23rd. The business services provider reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). SP Plus had a return on equity of 22.91% and a net margin of 3.13%. The business had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $169.05 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share.
A number of hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its stake in shares of 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 last quarter. SG Americas Securities LLC acquired a new position in shares of SP Plus during the 3rd quarter valued at about $259,000. Deutsche Bank AG increased its stake in shares of SP Plus by 9.7% during the 3rd quarter. Deutsche Bank AG now owns 21,222 shares of the business services provider’s stock valued at $651,000 after acquiring an additional 1,872 shares during the last quarter. Barclays PLC increased its stake in shares of SP Plus by 220.4% during the 3rd quarter. Barclays PLC now owns 10,052 shares of the business services provider’s stock valued at $308,000 after acquiring an additional 6,915 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of SP Plus by 100.4% during the 3rd quarter. Citigroup Inc. now owns 3,058 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 1,532 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.
SP Plus Company Profile (Get Rating)
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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