Published On: Fri, Sep 9th, 2016

SP Plus Corp. (SP) Upgraded to Hold at Zacks Investment Research

SP Plus Corp. (NASDAQ:SP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “SP Plus Corporation provides professional parking, ground transportation, facility maintenance, security and event logistics services to property owners and managers in all markets of the real estate industry. The Company also provides a range of ancillary services, such as airport shuttle operations, taxi and livery dispatch services and municipal meter revenue collection and enforcement services. Its clients include owners of office building complexes, shopping centers, sports complexes, hotels, hospitals, and various airports. SP Plus Corporation, formerly known as Standard Parking Corporation, is based in United States. “
SP Plus Corp. (NASDAQ:SP) opened at 25.30 on Friday. SP Plus Corp. has a 12-month low of $20.41 and a 12-month high of $26.39. The company has a 50-day moving average price of $24.77 and a 200-day moving average price of $23.46. The firm has a market cap of $564.65 million, a P/E ratio of 44.39 and a beta of 0.92.

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SP Plus Corp. (NASDAQ:SP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. On average, analysts predict that SP Plus Corp. will post $1.16 earnings per share for the current year.
In other news, Director James A. Wilhelm sold 12,000 shares of SP Plus Corp. stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $25.50, for a total transaction of $306,000.00. Following the transaction, the director now owns 9,848 shares in the company, valued at approximately $251,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William H. Bodenhamer sold 15,726 shares of SP Plus Corp. stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $23.08, for a total value of $362,956.08. Following the transaction, the insider now owns 7,283 shares in the company, valued at approximately $168,091.64. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Other institutional investors have added to or reduced their stakes in the company. Dalton Greiner Hartman Maher & Co. boosted its position in SP Plus Corp. by 2.0% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 63,986 shares of the company’s stock valued at $1,671,000 after buying an additional 1,249 shares during the period. Goldman Sachs Group Inc. acquired a new position in SP Plus Corp. during the first quarter valued at $215,000. Aristotle Capital Boston LLC boosted its position in SP Plus Corp. by 3.2% in the first quarter. Aristotle Capital Boston LLC now owns 232,797 shares of the company’s stock valued at $5,601,000 after buying an additional 7,223 shares during the period. Nuveen Asset Management LLC boosted its position in SP Plus Corp. by 7.5% in the first quarter. Nuveen Asset Management LLC now owns 99,433 shares of the company’s stock valued at $2,392,000 after buying an additional 6,907 shares during the period. Finally, Renaissance Technologies LLC boosted its position in SP Plus Corp. by 10.4% in the first quarter. Renaissance Technologies LLC now owns 172,400 shares of the company’s stock valued at $4,148,000 after buying an additional 16,300 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.
SP Plus Corp. Company Profile
SP Plus Corporation provides parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company operates through six segments: Region One (North reporting unit), Region Two (South reporting unit), Region Three (New York Metropolitan tri-state area of New York, New Jersey and Connecticut reporting unit), Region Four (Airport transportation operations around the nation reporting unit) and Region Five (the United States Parking reporting unit and event planning and transportation services reporting unit).

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