SP Plus (NASDAQ:SP) Receives New Coverage from Analysts at StockNews.com

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

SP Plus Price Performance

Shares of NASDAQ:SP opened at $53.99 on Wednesday. The firm has a market cap of $1.07 billion, a PE ratio of 35.52 and a beta of 1.22. The company has a fifty day simple moving average of $53.39 and a 200 day simple moving average of $52.19. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.27. SP Plus has a 12-month low of $34.17 and a 12-month high of $54.42.

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

Hedge Funds Weigh In On SP Plus

A number of hedge funds have recently added to or reduced their stakes in the business. Alpine Associates Management Inc. acquired a new position in shares of SP Plus in the 4th quarter valued at about $51,204,000. Absolute Gestao de Investimentos Ltda. bought a new position in shares of SP Plus during the first quarter valued at approximately $20,741,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of SP Plus during the 4th quarter worth approximately $15,391,000. Westchester Capital Management LLC bought a new stake in shares of SP Plus in the 4th quarter worth approximately $15,226,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of SP Plus by 348.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 373,833 shares of the business services provider’s stock worth $19,159,000 after purchasing an additional 290,403 shares during the last quarter. Institutional investors and hedge funds own 93.98% of the company’s stock.

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.