Spartan Motors Inc (SPAR) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.19 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.08. The company posted revenue of $162.50 million in the period, compared to analysts expectations of $152.05 million. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.
Many Wall Street Analysts have commented on Spartan Motors Inc. Craig Hallum Initiated Spartan Motors Inc on Jul 26, 2016 to “Buy”, Price Target of the shares are set at $12.
Spartan Motors Inc closed down -0.34 points or -3.94% at $8.29 with 3,47,820 shares getting traded on Tusday. Post opening the session at $8.63, the shares hit an intraday low of $8.18 and an intraday high of $8.75 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on May 12, 2016, Ronald Edward Harbour (director) sold 2,000 shares at $5.89 per share price. According to the SEC, on May 11, 2016, Frederick J. Sohm (CFO) purchased 5,000 shares at $5.65 per share price. On May 10, 2016, Richard R Current (director) purchased 3,083 shares at $5.60 per share price, according to the Form-4 filing with the securities and exchange commission.
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.