SP Plus (NASDAQ:SP) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, May 31st.

SP has been the topic of a number of other research reports. Barrington Research reissued a “buy” rating and issued a $42.00 price target on shares of SP Plus in a research note on Wednesday, May 9th. Zacks Investment Research cut shares of SP Plus from a “buy” rating to a “hold” rating in a research note on Friday, May 25th.

SP Plus traded down $0.05, reaching $38.00, during trading on Thursday, according to Marketbeat Ratings. 59,500 shares of the company’s stock were exchanged, compared to its average volume of 99,057. SP Plus has a 1 year low of $28.80 and a 1 year high of $41.70. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $882.84 million, a PE ratio of 22.35, a P/E/G ratio of 1.92 and a beta of 1.10.

SP Plus (NASDAQ:SP) last posted its quarterly earnings results on Wednesday, May 2nd. The business services provider reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The company had revenue of $366.80 million during the quarter, compared to analyst estimates of $230.80 million. SP Plus had a net margin of 3.22% and a return on equity of 13.16%. analysts predict that SP Plus will post 2.26 EPS for the current fiscal year.

In other SP Plus news, CEO G Marc Baumann sold 1,000 shares of SP Plus stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $35.50, for a total transaction of $35,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new position in shares of SP Plus during the 1st quarter valued at about $107,000. Envestnet Asset Management Inc. purchased a new stake in SP Plus in the 4th quarter valued at about $120,000. SG Americas Securities LLC purchased a new stake in SP Plus in the 1st quarter valued at about $147,000. WINTON GROUP Ltd purchased a new stake in SP Plus in the 1st quarter valued at about $217,000. Finally, Citigroup Inc. raised its holdings in SP Plus by 61.4% in the 1st quarter. Citigroup Inc. now owns 6,972 shares of the business services provider’s stock valued at $248,000 after buying an additional 2,652 shares during the period. 96.49% of the stock is currently owned by hedge funds and other institutional investors.

SP Plus Company Profile

SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.

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