Sparton Corp. (NYSE:SPA) has received a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold recommendation.
Analysts have set a 1 year consensus price objective of $24.00 for the company and are anticipating that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also given Sparton Corp. an industry rank of 78 out of 265 based on the ratings given to its competitors.
Several equities research analysts have weighed in on SPA shares. Zacks Investment Research upgraded Sparton Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th. CJS Securities cut Sparton Corp. from an “outperform” rating to a “market perform” rating and set a $24.00 target price for the company. in a report on Tuesday, September 20th. Finally, B. Riley reiterated a “neutral” rating and issued a $24.00 target price on shares of Sparton Corp. in a report on Monday, September 12th.
Sparton Corp. (NYSE:SPA) traded down 0.89% during midday trading on Thursday, hitting $25.52. The company had a trading volume of 28,266 shares. Sparton Corp. has a 52 week low of $11.19 and a 52 week high of $26.43. The stock has a 50 day moving average price of $24.20 and a 200-day moving average price of $21.27. The stock’s market capitalization is $249.89 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, beating the Zacks’ consensus estimate of $0.32 by $0.18. Sparton Corp. had a positive return on equity of 13.39% and a negative net margin of 9.13%. The company earned $107.10 million during the quarter. During the same quarter in the previous year, the firm earned $0.65 EPS. Sparton Corp.’s revenue was down 15.3% compared to the same quarter last year. On average, equities analysts predict that Sparton Corp. will post $1.53 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPA. Beddow Capital Management Inc. raised 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 last quarter. Emerald Acquisition Ltd. bought a new position in Sparton Corp. during the second quarter valued at approximately $986,000. ZPR Investment Management bought a new position in Sparton Corp. during the first quarter valued at approximately $763,000. Capital Management Corp VA raised its position in Sparton Corp. by 29.7% in the second quarter. Capital Management Corp VA now owns 119,120 shares of the company’s stock valued at $2,593,000 after buying an additional 27,300 shares during the last quarter. Finally, State Street Corp raised its position in Sparton Corp. by 16.3% in the second quarter. State Street Corp now owns 166,422 shares of the company’s stock valued at $3,624,000 after buying an additional 23,324 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.
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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