According to Zacks, “Spartan is a leading designer, engineer and manufacturer of custom heavy-duty chassis. The Company’s chassis consist of a frame assembly, engine, transmission, electrical systems, running gear (wheels, tires, axles, suspension and brakes) and, for some applications, a cab. The Company’s customers are original equipment manufacturers (OEMs) who complete their vehicle product by mounting the body or apparatus on a Spartan chassis. “
Separately, Craig Hallum initiated coverage on Spartan Motors in a report on Tuesday, July 26th. They set a buy rating for the company.
Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.11. Spartan Motors had a positive return on equity of 1.49% and a negative net margin of 1.80%. The business earned $162.50 million during the quarter, compared to analyst estimates of $152.65 million. During the same period last year, the company earned $0.03 earnings per share. Spartan Motors’s quarterly revenue was up 12.2% compared to the same quarter last year.
In other Spartan Motors news, Director Kenneth Kaczmarek sold 21,017 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $9.12, for a total transaction of $191,675.04. Following the transaction, the director now directly owns 105,124 shares in the company, valued at $958,730.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 4.59% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in Spartan Motors by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,434,998 shares of the company’s stock valued at $15,243,000 after buying an additional 91,737 shares during the period. Royce & Associates LP raised its position in Spartan Motors by 2.9% in the second quarter. Royce & Associates LP now owns 1,895,128 shares of the company’s stock valued at $11,864,000 after buying an additional 53,649 shares during the period. Vanguard Group Inc. raised its position in Spartan Motors by 3.4% in the second quarter. Vanguard Group Inc. now owns 1,393,393 shares of the company’s stock valued at $8,723,000 after buying an additional 46,170 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Spartan Motors by 33.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 967,470 shares of the company’s stock valued at $6,056,000 after buying an additional 241,338 shares during the period. Finally, BlackRock Fund Advisors raised its position in Spartan Motors by 948.8% in the second quarter. BlackRock Fund Advisors now owns 858,949 shares of the company’s stock valued at $5,377,000 after buying an additional 777,050 shares during the period. Institutional investors own 65.77% of the company’s stock.
About Spartan Motors
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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