What’s Propelling Spartan Motors, Inc. (SPAR) to Increase? The Stock Formed a Double Top

March 20, 2018 - By Nellie Frank

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.
Gabelli Funds Ltd Limited Liability Company invested in 80,375 shares or 0.01% of the stock. Wedge Mgmt L Ltd Partnership Nc has 0.01% invested in Spartan Motors, Inc. (NASDAQ:SPAR). 2.28M were reported by Blackrock. Wells Fargo Co Mn has 0% invested in Spartan Motors, Inc. (NASDAQ:SPAR) for 53,673 shares. Pacific Ridge Prns Ltd Liability Corp holds 1.22% or 388,176 shares. Wilen Investment Mngmt holds 34,696 shares. New York State Common Retirement Fund invested 0.01% of its portfolio in Spartan Motors, Inc. (NASDAQ:SPAR). D E Shaw Company stated it has 81,157 shares. Price T Rowe Assoc Md invested 0% of its portfolio in Spartan Motors, Inc. (NASDAQ:SPAR). Dimensional Fund Advsrs Lp reported 2.95M shares. Gsa Capital Partners Llp owns 191,554 shares or 0.14% of their US portfolio. Voya Inv Mngmt Limited Company holds 0% or 19,185 shares. Federated Investors Pa invested in 0% or 78,949 shares. 257,878 are held by Zuckerman Invest Group Inc Llc. 700,000 are owned by Heartland Advsrs.

Since December 15, 2017, it had 0 insider purchases, and 2 sales for $367,903 activity. 21,191 shares were sold by SLAWSON JOHN W, worth $326,748.

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 Finviz.com. 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 EPS, 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 EPS 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 downgraded by Zacks to “Buy” on Saturday, August 8. Seaport Global Securities downgraded the stock to “Neutral” rating in Friday, November 6 report. Roth Capital initiated the stock with “Buy” rating in Wednesday, January 25 report. Roth Capital maintained Spartan Motors, Inc. (NASDAQ:SPAR) rating on Tuesday, October 17. Roth Capital has “Buy” rating and $20.0 target. The stock of Spartan Motors, Inc. (NASDAQ:SPAR) earned “Buy” rating by TH Capital on Wednesday, January 25. The firm has “Buy” rating by Roth Capital given on Tuesday, August 1. The rating was upgraded by Zacks on Thursday, August 6 to “Hold”. Craig Hallum initiated the shares of SPAR in report on Tuesday, July 26 with “Buy” rating.

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