SP Plus (NASDAQ:SP) Given Outperform Rating at Barrington Research

SP Plus (NASDAQ:SP – Get Rating)‘s stock had its “outperform” rating restated by stock analysts at Barrington Research in a report issued on Monday, The Fly reports. They currently have a $47.00 price target on the business services provider’s stock, up from their previous price target of $46.00. Barrington Research’s price target indicates a potential upside of 56.46% from the company’s current price. 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.

A number of other brokerages have also recently commented on SP. William Blair restated an “outperform” rating on shares of SP Plus in a research note on Wednesday, February 23rd. StockNews.com began coverage on shares of SP Plus in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Wednesday, May 11th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $39.50.

SP Plus stock opened at $30.04 on Monday. SP Plus has a twelve month low of $25.29 and a twelve month high of $34.99. The firm has a 50 day moving average price of $30.08 and a 200-day moving average price of $29.29. The company has a market capitalization of $698.73 million, a P/E ratio of 16.06 and a beta of 1.50. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.34.

SP Plus (NASDAQ:SP – Get Rating) last released its earnings results on Wednesday, February 23rd. The business services provider reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). SP Plus had a net margin of 3.13% and a return on equity of 22.91%. The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $169.05 million. During the same period in the prior year, the company earned $0.02 earnings per share. Equities analysts expect that SP Plus will post 2.66 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in SP. Advisor Group Holdings Inc. grew its holdings in 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 acquiring an additional 385 shares during the last quarter. Alpha Paradigm Partners LLC grew its holdings in SP Plus by 124.4% in the 4th quarter. Alpha Paradigm Partners LLC now owns 1,010 shares of the business services provider’s stock worth $29,000 after acquiring an additional 560 shares during the last quarter. Cornercap Investment Counsel Inc. grew its holdings in SP Plus by 1.4% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 42,278 shares of the business services provider’s stock worth $1,326,000 after acquiring an additional 575 shares during the last quarter. Credit Suisse AG grew its holdings in SP Plus by 3.9% in the 4th quarter. Credit Suisse AG now owns 16,647 shares of the business services provider’s stock worth $471,000 after acquiring an additional 630 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in SP Plus by 0.6% in the 4th quarter. Sei Investments Co. now owns 122,420 shares of the business services provider’s stock worth $3,457,000 after acquiring an additional 716 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors.

About SP Plus (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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