Spartan Motors, Inc. (SPAR) Forms Double Top; Strong Momentum for Buyers Coming

March 20, 2018 - By Vivian Currie

Investors sentiment decreased to 0.85 in 2017 Q3. Its down 0.30, from 1.15 in 2017Q2. It dropped, as 3 investors sold Spartan Motors, Inc. shares while 45 reduced holdings. 22 funds opened positions while 19 raised stakes. 22.47 million shares or 2.06% less from 22.94 million shares in 2017Q2 were reported.
Connecticut-based Tudor Invest Et Al has invested 0% in Spartan Motors, Inc. (NASDAQ:SPAR). Millennium Mgmt Ltd has 0.01% invested in Spartan Motors, Inc. (NASDAQ:SPAR). Macquarie Group Limited has 0% invested in Spartan Motors, Inc. (NASDAQ:SPAR) for 2,048 shares. Parametric Port Associates Lc invested in 58,649 shares. The New York-based First Manhattan has invested 0.01% in Spartan Motors, Inc. (NASDAQ:SPAR). Gabelli Funds Limited Company stated it has 80,375 shares or 0.01% of all its holdings. Strs Ohio has invested 0% in Spartan Motors, Inc. (NASDAQ:SPAR). Federated Investors Pa accumulated 78,949 shares. Monarch Ptnrs Asset Mngmt Ltd Liability Corporation holds 0.03% or 28,290 shares in its portfolio. Gamco Investors Inc Et Al has invested 0.02% in Spartan Motors, Inc. (NASDAQ:SPAR). Kirr Marbach And Limited Liability Co In owns 50,435 shares. Ariel Investments Ltd, a Illinois-based fund reported 631,295 shares. Franklin holds 0% of its portfolio in Spartan Motors, Inc. (NASDAQ:SPAR) for 749,300 shares. Silver Capital Mngmt Lc has invested 5.52% in Spartan Motors, Inc. (NASDAQ:SPAR). First Trust Advsr Lp invested 0% of its portfolio in Spartan Motors, Inc. (NASDAQ:SPAR).

Since December 15, 2017, it had 0 insider purchases, and 2 selling transactions for $367,903 activity. SLAWSON JOHN W sold $326,748 worth of stock or 21,191 shares.

The chart of Spartan Motors, Inc. (SPAR) shows a double top with $18.38 target or 5.00 % above today’s $17.50 share price. The 7 months chart pattern indicates low risk for the $614.07 million company. It was reported on Mar, 20 by If the $18.38 price target is reached, the company will be worth $30.70 million more. Double tops are rare but powerful chart patterns.

The stock increased 4.48% or $0.75 during the last trading session, reaching $17.5. About 415,499 shares traded or 48.53% up from the average. Spartan Motors, Inc. (NASDAQ:SPAR) has risen 45.41% since March 20, 2017 and is uptrending. It has outperformed by 28.71% the S&P500.

Analysts await Spartan Motors, Inc. (NASDAQ:SPAR) to report earnings on May, 3. They expect $0.05 earnings per share, up 25.00 % or $0.01 from last year’s $0.04 per share. SPAR’s profit will be $1.75 million for 87.50 P/E if the $0.05 EPS becomes a reality. After $0.11 actual earnings per share reported by Spartan Motors, Inc. for the previous quarter, Wall Street now forecasts -54.55 % negative EPS growth.

Spartan Motors, Inc. (NASDAQ:SPAR) Ratings Coverage

Among 4 analysts covering Spartan Motors (NASDAQ:SPAR), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Spartan Motors had 9 analyst reports since August 6, 2015 according to SRatingsIntel. The rating was initiated by TH Capital on Wednesday, January 25 with “Buy”. The firm earned “Buy” rating on Tuesday, October 17 by Roth Capital. As per Thursday, August 6, the company rating was upgraded by Zacks. On Saturday, August 8 the stock rating was downgraded by Zacks to “Buy”. The stock has “Buy” rating by Roth Capital on Tuesday, August 1. The firm earned “Neutral” rating on Friday, November 6 by Seaport Global Securities. The stock of Spartan Motors, Inc. (NASDAQ:SPAR) earned “Buy” rating by Craig Hallum on Tuesday, July 26. The rating was initiated by Roth Capital with “Buy” on Wednesday, January 25.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.