Spartan Motors Inc. (NASDAQ:SPAR) announced that FTSE Russell added Spartan Motors ...

Spartan Motors Inc. (NASDAQ:SPAR) announced that FTSE Russell added Spartan Motors to the Russell 2000® Index

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Spartan Motors Inc. (NASDAQ:SPAR) announced that FTSE Russell added Spartan Motors  to the Russell 2000® Index and the Russell 3000® Index, as part of the  annual reconstitution of its comprehensive set of U.S. and global equity indexes.  The Russell index changes will be in effect when the U.S. market opens today, June 27, 2016.

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“We are pleased to be added to the Russell 2000®, which reflects our continued positive turnaround momentum and efforts to increase shareholder value,” said Daryl Adams, President and Chief Executive Officer, Spartan Motors.  “We expect our inclusion to raise our profile and generate greater interest in our stock among institutional investors.”

Indexes provided by FTSE Russell, a leading global index provider, are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.  Approximately $6 trillion in assets are benchmarked against the Russell U.S. indexes.  Spartan Motors will hold its membership until FTSE Russell reconstitutes its indexes in June 2017.

The annual reconstitution of the Russell 3000®captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization.  The largest 1,000 companies in this ranking comprise the Russell 1000, and the next 2,000 companies become the Russell 2000®.

Spartan Equity Analysis

Spartan Motors Inc. (NASDAQ:SPAR) opened trading today as $7.34 and is trading in the range of 6.21-7.41 today. Spartan’ current market cap stands at $252.79 Million.

Compared to other peers in the Trucks & Other Vehicles sector, Spartan has outperformed in terms of quarterly revenue growth year over year at 0.04 vs. the industry average of 0.00. Spartan’s earnings per share is currently at -0.40, which is below than the sector average of 0.87.

Spartan is currently covered by 2 Wall Street analysts.  The mean target price is $5.00 according to First Call.  This presents a solid downside to the current price of the equity.  The Mean Recommendation sits at 3.0 which is based on 2 Hold ratings.

The most recent analyst actions consisted of Seaport Global Securities downgrading the stock on November 6th.

The current quarter EPS consensus estimate is 0.08 with revenue estimates of 152.65M.  Sales are expected to grow at a 5.40% rate. Spartan reported actual earnings last quarter of 0.03 which beats the -0.05 consensus estimate, a 160.00% surprise.

Corporate Profile

Spartan Motors, Inc. is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment. The Delivery and Service Vehicles segment manufactures delivery and service vehicles through the Company’s subsidiary, Utilimaster Corporation (Utilimaster). The Company’s Specialty Chassis and Vehicles segment consists of the operations of Spartan Motors Chassis, Inc. (Spartan Chassis) that engineer and manufacture motor home chassis, defense vehicles and other specialty chassis, and distribute related aftermarket parts and assemblies. The Company markets its products under brands, such as Spartan ERV, Aeromaster, Trademaster, Metromaster and Utilivan.

Source: insidetrade.co

1 COMMENT

  1. Ellen W. BrAgnouwust 8, 2012The acme at 541 High St. in Mt Holly is my favorite place for grocery shopping. I know where everything is and, when I don’t the staff is most helpful and curteous. I am always pleased with the quality [whether generic or brand name] The prices are too high for me to do the majority of my shopping there, tho. And I think the sale prices are sometimes misleading.

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