SP Plus (NASDAQ:SP) Research Coverage Started at StockNews.com

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

Separately, TheStreet downgraded shares of SP Plus from a b rating to a c+ rating in a research note on Tuesday, February 27th.

SP Plus Stock Performance

SP opened at $51.55 on Friday. The firm has a market cap of $1.02 billion, a P/E ratio of 33.05 and a beta of 1.22. SP Plus has a 1-year low of $32.78 and a 1-year high of $52.56. The company has a 50 day simple moving average of $51.69 and a two-hundred day simple moving average of $50.86. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.71 and a quick ratio of 0.71.

SP Plus (NASDAQ:SP) last issued its earnings results on Tuesday, February 27th. The business services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.25). The company had revenue of $217.20 million for the quarter, compared to the consensus estimate of $235.44 million. SP Plus had a return on equity of 22.49% and a net margin of 1.74%. Equities analysts forecast that SP Plus will post 3.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP purchased a new position in SP Plus in the 1st quarter worth about $27,000. International Assets Investment Management LLC bought a new position in SP Plus during the 3rd quarter worth about $28,000. Parallel Advisors LLC grew its holdings in SP Plus by 868.4% during the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after acquiring an additional 495 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in SP Plus by 75.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,004 shares of the business services provider’s stock worth $39,000 after acquiring an additional 433 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in SP Plus during the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 93.98% of the company’s stock.

About SP Plus

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.