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

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

SP Plus Price Performance

SP opened at $53.99 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 35.52 and a beta of 1.22. The firm’s fifty day moving average price is $53.99 and its two-hundred day moving average price is $52.46. SP Plus has a 1 year low of $34.17 and a 1 year high of $54.42.

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

Hedge Funds Weigh In On SP Plus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in shares of SP Plus by 868.4% in the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after buying an additional 495 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of SP Plus in the 4th quarter worth about $61,000. Quest Partners LLC purchased a new position in shares of SP Plus in the 4th quarter worth about $73,000. GAM Holding AG purchased a new stake in SP Plus during the fourth quarter valued at about $256,000. Finally, Virtu Financial LLC purchased a new stake in SP Plus during the first quarter valued at about $291,000. 93.98% of the stock is owned by hedge funds and other 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.