CJS Securities lowered shares of Sparton Corp. (NYSE:SPA) from an outperform rating to a market perform rating in a report issued on Tuesday morning. The brokerage currently has $24.00 target price on the stock.
SPA has been the topic of a number of other research reports. Zacks Investment Research raised shares of Sparton Corp. from a strong sell rating to a hold rating in a report on Tuesday, July 12th. B. Riley reissued a neutral rating and issued a $24.00 price objective on shares of Sparton Corp. in a report on Monday, September 12th. Five investment analysts have rated the stock with a hold rating, The stock currently has an average rating of Hold and a consensus target price of $26.75.
Sparton Corp. (NYSE:SPA) opened at 25.42 on Tuesday. The stock has a 50 day moving average of $23.30 and a 200-day moving average of $20.67. Sparton Corp. has a one year low of $11.19 and a one year high of $25.60. The company’s market cap is $248.91 million.
Sparton Corp. (NYSE:SPA) last posted its quarterly earnings data on Tuesday, September 6th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. The company had revenue of $107.10 million for the quarter. Sparton Corp. had a negative net margin of 9.13% and a positive return on equity of 13.39%. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS. On average, equities analysts predict that Sparton Corp. will post $1.53 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL increased its position in shares of Sparton Corp. by 0.7% in the second quarter. Gamco Investors INC. ET AL now owns 43,638 shares of the company’s stock valued at $950,000 after buying an additional 300 shares in the last quarter. ZPR Investment Management bought a new position in Sparton Corp. during the first quarter valued at approximately $763,000. Beddow Capital Management Inc. increased its position in Sparton Corp. by 10.2% in the first quarter. Beddow Capital Management Inc. now owns 628,715 shares of the company’s stock valued at $11,311,000 after buying an additional 58,135 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Sparton Corp. by 4.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 133,139 shares of the company’s stock valued at $2,395,000 after buying an additional 5,584 shares during the period. Finally, Kennedy Capital Management Inc. increased its position in Sparton Corp. by 3.0% in the first quarter. Kennedy Capital Management Inc. now owns 399,038 shares of the company’s stock valued at $7,179,000 after buying an additional 11,521 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.
About Sparton Corp.
Sparton Corporation, through its subsidiaries, provides design, development and manufacturing services for complex electromechanical devices, as well as sophisticated engineered products. The Company operates in two segments: Manufacturing & Design Services (MDS) and Engineered Components & Products (ECP).
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