Sparton Corporation (SPA) was Downgraded by Sidoti to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Sidoti advised their investors in a research report released on May 4, 2016.
On the company’s financial health, Sparton Corporation reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.33. The company had revenue of $102.20 million for the quarter, compared to analysts expectations of $105.16 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.
Sparton Corporation closed down -0.43 points or -2.00% at $21.03 with 48,667 shares getting traded on Monday. Post opening the session at $21.5, the shares hit an intraday low of $20.89 and an intraday high of $21.5 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Feb 19, 2016, Christopher A. Ratliff (VP, Information Technology) purchased 1,000 shares at $13.06 per share price. According to the SEC, on Feb 12, 2016, Joseph Thomas Schneider (Sr. VP- Sales & Marketing) purchased 1,000 shares at $13.90 per share price. On Feb 10, 2016, James D Fast (director) purchased 1,200 shares at $12.24 per share price, according to the Form-4 filing with the securities and exchange commission.
Sparton Corporation through its subsidiaries provides design development and manufacturing services for complex electromechanical devices as well as sophisticated engineered products. The Company operates in two segments: Manufacturing & Design Services (MDS) and Engineered Components & Products (ECP). Its MDS segment consists of contract design manufacturing and aftermarket repair and refurbishment of sophisticated printed circuit card assemblies sub-assemblies full product assemblies and cable/wire harnesses. Its ECP segment consists of design development and production of products for both domestic and foreign defense as well as commercial needs. Its products and services include offerings for original equipment manufacturers (OEMs) and emerging technology (ET) customers that utilize microprocessor-based systems which include transducers sensors and electromechanical components as well as development and design engineering services relating to these product sales.