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

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

SP Plus Price Performance

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

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

Hedge Funds Weigh In On SP Plus

Several institutional investors and hedge funds have recently modified their holdings of SP. Parallel Advisors LLC boosted its holdings in SP Plus by 868.4% in the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after purchasing an additional 495 shares in the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in SP Plus in the fourth quarter worth $61,000. Quest Partners LLC bought a new stake in SP Plus in the fourth quarter worth $73,000. GAM Holding AG bought a new stake in SP Plus in the fourth quarter worth $256,000. Finally, Virtu Financial LLC bought a new stake in SP Plus in the first quarter worth $291,000. 93.98% of the stock is currently 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.