Sparton Corporation (NYSE:SPA):
SHAREHOLDER ALERT: Monteverde & Associates PC Announces An Investigation Of Sparton Corporation – SPA.
The company is down since yesterday’s close of $23.1.
Sparton Corporation, launched on December 29, 1919, is a provider of design, development and manufacturing services for electromechanical devices, as well as engineered products complementary to the same electromechanical value stream. The Company operates through two segments: Manufacturing & Design Services (MDS) and Engineered Components & Products (ECP). The Company serves the medical and biotechnology, military and aerospace, and industrial and commercial markets. The Business’s products and services include offerings for original equipment manufacturers (OEM) and emerging technology (ET) customers, which utilize microprocessor-based systems, such as transducers, printed circuit boards and assemblies, sensors and electromechanical components, as well as development and design engineering services relating to these product sales. The Company develops and manufactures sonobuoys and anti-submarine warfare (ASW) devices used by the United States Navy, as well as by foreign governments that meet Department of State licensing requirements. The Company also manufactures rugged flat panel display systems for military panel personal computer workstations, air traffic control and industrial applications, as well as industrial grade computer systems and peripherals..
It is trading at $23.08 a tad above $18.53, the 50 day moving average and a tad higher than the 200 day moving average of $21.31. The 50 day moving average was up $4.55 and the 200 day average was up $1.77.
Wall Street analysts have released opinions on the stock. On September 20 the company was downgraded from “Outperform” to “Market Perform” by CJS Securities. On May 4, 2016 the stock rating was set at “Neutral” by Sidoti & Co. a cut from the previous “” rating.
On February 8 the stock rating was downgraded to “Market Perform” from “Outperform” in a report issued by Barrington Research. On February 4 the company was rated “Buy” according to a B. Riley report which was a boost from the previous “Neutral” rating.
On October 5 analysts at Sidoti & Co. added the stock to its research portfolio with an initial rating of “Buy” and price target of $34.00. Equity analyst B. Riley started coverage by announcing an initial rating of “Neutral” and establishing a price target of $25.00.