SP Plus (NASDAQ:SP) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday, BidAskClub reports.

A number of other analysts have also recently commented on SP. ValuEngine raised shares of XPO Logistics from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 4th. Barrington Research set a $118.00 price target on shares of SYNNEX and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Zacks Investment Research raised shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $42.67.

Shares of SP Plus stock traded down $0.03 during trading on Tuesday, hitting $34.98. The company’s stock had a trading volume of 6,749 shares, compared to its average volume of 81,348. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.58 and a current ratio of 0.58. SP Plus has a 52 week low of $27.13 and a 52 week high of $41.35. The stock has a market capitalization of $806.50 million, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06. The firm’s 50-day moving average is $33.05.

SP Plus (NASDAQ:SP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.15. SP Plus had a net margin of 3.21% and a return on equity of 15.92%. The company had revenue of $409.40 million for the quarter, compared to analysts’ expectations of $234.85 million. Analysts predict that SP Plus will post 2.61 EPS for the current fiscal year.

In other SP Plus news, EVP Gerard M. Klaisle sold 1,060 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $35.00, for a total transaction of $37,100.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of SP Plus by 7.8% during the 4th quarter. BlackRock Inc. now owns 1,694,634 shares of the business services provider’s stock worth $50,058,000 after purchasing an additional 122,255 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of SP Plus by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,192,387 shares of the business services provider’s stock worth $35,223,000 after purchasing an additional 7,262 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of SP Plus by 63.8% during the 1st quarter. WCM Investment Management LLC now owns 510,745 shares of the business services provider’s stock worth $17,427,000 after purchasing an additional 198,951 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of SP Plus by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 295,961 shares of the business services provider’s stock worth $8,742,000 after purchasing an additional 27,752 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. boosted its position in shares of SP Plus by 7.7% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 289,655 shares of the business services provider’s stock worth $9,249,000 after purchasing an additional 20,811 shares in the last quarter. 98.56% of the stock is currently owned by institutional investors and hedge funds.

SP Plus Company Profile

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.

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