Spartan Motors, Inc. (NASDAQ:SPAR):
Spartan Motors Reports Third Quarter Net Income of $13.5 Million; Increases 391%, on 27% Sales Growth.
The company is up from yesterday’s close of $16.15.
Spartan Motors, Inc., launched on September 18, 1975, is an engineer and manufacturer of specialized motor vehicle chassis and bodies. The Business’s principal chassis markets are emergency response vehicles, motor homes and other specialty vehicles. The Business’s operating activities are conducted through its operating subsidiary, Spartan Motors USA, Inc. (Spartan USA), with locations in Charlotte, Michigan; Brandon, South Dakota; Ephrata, Pennsylvania, and Bristol and Wakarusa, Indiana. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Business’s Charlotte, Michigan location manufactures heavy duty chassis and vehicles, and supplies aftermarket parts and services under the Spartan Chassis and Spartan ERV brand names. Its Brandon, South Dakota and Ephrata, Pennsylvania locations manufacture emergency response vehicles under the Spartan ERV brand name, while its Bristol and Wakarusa, Indiana locations manufacture delivery and service vehicles and supply related aftermarket parts and services under the Utilimaster brand name..
Shares are trading at $16.15 significantly above the 50 day moving average of $12.98 and which is impressively higher than the 200 day moving average of $9.85. The 50 day moving average went up by +24.40% and the 200 day average went up by +63.91%.
The company’s P/E ratio is 150.93 and market cap is 566.75M. As of the last earnings report the EPS was $0.11 and is expected to be $0.50 for the current year with 35,093,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.14 and the next full year EPS is projected to be $0.72.
Investors are feeling more bearish on shares of the company at least if you consider the uptick in short interest. The company experienced a rise in short interest of 21.77% between September 29, 2017 and October 13, 2017. Short shares increased from 340,143 to 414,205 over that period. The days to cover decreased to 1.0 and the short interest percentage is 0.01% as of October 13.