Market Runner: A Reversal for SP Plus Corp Is Not Near. The Stock Reaches 52-Week High Today

Market Runner: A Reversal for SP Plus Corp Is Not Near. The Stock Reaches 52 Week High Today

The stock of SP Plus Corp (NASDAQ:SP) hit a new 52-week high and has $31.05 target or 22.00% above today’s $25.45 share price. The 8 months bullish chart indicates low risk for the $556.56M company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $31.05 price target is reached, the company will be worth $122.44M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 15,402 shares traded hands. SP Plus Corp (NASDAQ:SP) has risen 3.44% since April 1, 2016 and is uptrending. It has outperformed by 2.23% the S&P500.

SP Plus Corp (NASDAQ:SP) Ratings Coverage

Out of 2 analysts covering SP Plus (NASDAQ:SP), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. SP Plus has been the topic of 2 analyst reports since September 4, 2015 according to StockzIntelligence Inc. UBS maintained SP Plus Corp (NASDAQ:SP) rating on Friday, September 4. UBS has “Buy” rating and $93 price target. The company was maintained on Monday, November 9 by Barrington Research.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.48 in Q2 2016. Its up 0.02, from 1.46 in 2016Q1. The ratio increased, as 9 funds sold all SP Plus Corp shares owned while 22 reduced positions. 6 funds bought stakes while 40 increased positions. They now own 16.22 million shares or 3.64% less from 16.83 million shares in 2016Q1.
Tower Rech Capital Ltd Liability Co (Trc) holds 1,246 shares or 0% of its portfolio. Whittier Trust accumulated 8,800 shares or 0.01% of the stock. Ngam Advsr Ltd Partnership holds 0.01% of its portfolio in SP Plus Corp (NASDAQ:SP) for 21,085 shares. Dudley And Shanley Llc last reported 11,050 shares in the company. Invest Counselors Of Maryland Ltd Limited Liability Company owns 735,326 shares or 0.91% of their US portfolio. Dalton Greiner Hartman Maher & Comm holds 0.2% or 145,298 shares in its portfolio. Parametric Ltd has invested 0% of its portfolio in SP Plus Corp (NASDAQ:SP). Utd Automobile Association holds 0.03% or 425,197 shares in its portfolio. Lionstone Cap Management Ltd Liability last reported 11.19% of its portfolio in the stock. Nuveen Asset Limited Liability Corporation reported 133,027 shares or 0.02% of all its holdings. Credit Suisse Ag accumulated 18,167 shares or 0% of the stock. Ig Mngmt accumulated 54,708 shares or 0% of the stock. State Street has 270,829 shares for 0% of their US portfolio. Aristotle Cap Boston Ltd, a Massachusetts-based fund reported 236,508 shares. Deutsche Comml Bank Ag last reported 256,323 shares in the company.

More important recent SP Plus Corp (NASDAQ:SP) news were published by: Reuters.com which released: “BRIEF-SP Plus Corp announces Q3 and year-to-date 2016 results” on November 02, 2016, also Globenewswire.com published article titled: “SP Plus Corporation Announces Third Quarter and Year-to-Date 2016 Results”, Globenewswire.com published: “SP Plus Corporation Announces Participation in the Dougherty & Company …” on September 21, 2016. More interesting news about SP Plus Corp (NASDAQ:SP) was released by: Globenewswire.com and their article: “SP Plus Corporation to Release Second Quarter 2016 Results on August 3, 2016” with publication date: July 20, 2016.

SP Company Profile

SP Plus Corporation (SP Plus), incorporated on September 24, 1981, is a well-known provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Firm operates through six divisions: Region One, Region Two, Region Three, Region Four, Region Five and Other. Region One includes the Company’s activities in Delaware, District of Columbia, Illinois, Indiana, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Northern California, Ohio, Oregon, Pennsylvania, Rhode Island, Virginia, Washington, West Virginia, Wisconsin and the three Canadian provinces of Alberta, Ontario, and Quebec. Region Two includes activities in Alabama, Arizona, Colorado, Florida, Georgia, Hawaii, Kansas, Louisiana, Mississippi, Missouri, Nebraska, New Mexico, North Carolina, Oklahoma, South Carolina, Southern California, Tennessee, Texas, Utah and Puerto Rico. Region Three includes the New York metropolitan tri-state area of New York, New Jersey and Connecticut. Region Four includes the Company’s airport and transportation activities across the nation. Region Five includes other reporting units of the United States parking and event planning and transportation services.

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