Q4 2022 EPS Estimates for SP Plus Co. Cut by Analyst (NASDAQ:SP)

SP Plus Co. (NASDAQ:SPGet Rating) – Stock analysts at William Blair lowered their Q4 2022 earnings per share estimates for SP Plus in a research note issued to investors on Wednesday, November 2nd. William Blair analyst T. Mulrooney now expects that the business services provider will earn $0.72 per share for the quarter, down from their prior forecast of $0.73. The consensus estimate for SP Plus’ current full-year earnings is $2.90 per share. William Blair also issued estimates for SP Plus’ FY2023 earnings at $3.19 EPS.

Several other equities research analysts have also recently issued reports on the company. Barrington Research raised their target price on SP Plus from $47.00 to $48.00 in a research note on Tuesday, August 23rd. StockNews.com raised SP Plus from a “buy” rating to a “strong-buy” rating in a report on Friday.

SP Plus Stock Performance

NASDAQ SP opened at $33.89 on Monday. The company has a market cap of $788.82 million, a PE ratio of 14.67 and a beta of 1.40. The stock’s 50 day simple moving average is $33.26 and its 200-day simple moving average is $32.25. SP Plus has a 1-year low of $25.29 and a 1-year high of $37.52. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.67 and a quick ratio of 0.67.

Insiders Place Their Bets

In other SP Plus news, insider Robert Toy sold 4,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $34.33, for a total transaction of $137,320.00. Following the transaction, the insider now owns 53,355 shares of the company’s stock, valued at approximately $1,831,677.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.03% of the company’s stock.

Institutional Trading of SP Plus

Several large investors have recently added to or reduced their stakes in SP. Prudential Financial Inc. lifted its holdings in SP Plus by 34.1% in the third quarter. Prudential Financial Inc. now owns 76,244 shares of the business services provider’s stock worth $2,388,000 after acquiring an additional 19,400 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of SP Plus by 21.0% during the third quarter. Russell Investments Group Ltd. now owns 67,643 shares of the business services provider’s stock valued at $2,116,000 after acquiring an additional 11,717 shares during the period. Teacher Retirement System of Texas increased its stake in shares of SP Plus by 168.9% during the third quarter. Teacher Retirement System of Texas now owns 95,620 shares of the business services provider’s stock valued at $2,995,000 after acquiring an additional 60,062 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in SP Plus in the third quarter worth approximately $238,000. Finally, Los Angeles Capital Management LLC grew its position in SP Plus by 15.1% in the third quarter. Los Angeles Capital Management LLC now owns 90,203 shares of the business services provider’s stock worth $2,825,000 after buying an additional 11,815 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

About SP Plus

(Get Rating)

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The firm operates through the following segments: Commercial, Aviation, and Other.

Featured Articles

Earnings History and Estimates for SP Plus (NASDAQ:SP)

Receive News & Ratings for SP Plus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SP Plus and related companies with MarketBeat.com's FREE daily email newsletter.