SP Plus’ (SP) Outperform Rating Reiterated at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of SP Plus (NASDAQ:SPGet Rating) in a research note published on Monday, The Fly reports. Barrington Research currently has a $47.00 price objective on the business services provider’s stock, up from their prior price objective of $46.00. Barrington Research also issued estimates for SP Plus’ Q2 2022 earnings at $0.71 EPS, Q3 2022 earnings at $0.73 EPS, Q4 2022 earnings at $0.70 EPS, FY2022 earnings at $2.75 EPS and FY2023 earnings at $2.98 EPS.

Several other research firms have also recently weighed in on SP. William Blair reiterated an outperform rating on shares of SP Plus in a research note on Wednesday, February 23rd. Zacks Investment Research upgraded SP Plus from a hold rating to a buy rating and set a $32.00 price objective for the company in a research report on Wednesday, May 11th. Finally, StockNews.com initiated coverage on SP Plus in a research report on Thursday, March 31st. They set a buy rating on the stock. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $39.50.

SP opened at $30.81 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.58 and a current ratio of 0.58. The business has a 50 day moving average price of $30.09 and a 200 day moving average price of $29.32. The firm has a market cap of $716.70 million, a P/E ratio of 16.48 and a beta of 1.50. SP Plus has a twelve month low of $25.29 and a twelve month high of $34.99.

SP Plus (NASDAQ:SPGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The business services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). The business had revenue of $170.00 million for the quarter, compared to analyst estimates of $169.05 million. SP Plus had a return on equity of 22.91% and a net margin of 3.13%. During the same period in the prior year, the firm posted $0.02 EPS. As a group, analysts anticipate that SP Plus will post 2.69 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. grew its holdings in shares of SP Plus by 28.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,761 shares of the business services provider’s stock worth $51,000 after purchasing an additional 385 shares during the last quarter. Alpha Paradigm Partners LLC grew its stake in SP Plus by 124.4% during the fourth quarter. Alpha Paradigm Partners LLC now owns 1,010 shares of the business services provider’s stock worth $29,000 after buying an additional 560 shares during the last quarter. Cornercap Investment Counsel Inc. increased its holdings in shares of SP Plus by 1.4% during the first quarter. Cornercap Investment Counsel Inc. now owns 42,278 shares of the business services provider’s stock worth $1,326,000 after buying an additional 575 shares in the last quarter. Credit Suisse AG raised its stake in shares of SP Plus by 3.9% in the fourth quarter. Credit Suisse AG now owns 16,647 shares of the business services provider’s stock valued at $471,000 after acquiring an additional 630 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of SP Plus by 0.6% in the fourth quarter. Sei Investments Co. now owns 122,420 shares of the business services provider’s stock valued at $3,457,000 after acquiring an additional 716 shares during the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

SP Plus Company Profile (Get Rating)

SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. 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.

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