Craig-Hallum Initiates Coverage on Spartan Motors Inc to Buy

Craig-Hallum Initiates Coverage on Spartan Motors Inc(NASDAQ:SPAR). The shares have been rated Buy. The rating by Craig-Hallum was issued on Jul 26, 2016.

Spartan Motors Inc (SPAR) made into the market gainers list on Fridays trading session with the shares advancing 1.92% or 0.16 points. Due to strong positive momentum, the stock ended at $8.49, which is also near the day’s high of $8.58. The stock began the session at $8.3 and the volume stood at 4,53,284 shares. The 52-week high of the shares is $8.58 and the 52 week low is $2.61. The company has a current market capitalization of $292 M and it has 3,44,41,403 shares in outstanding.

Spartan Motors Inc(SPAR) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $133.73M. Analysts had an estimated revenue of $132.40M. Earnings per share were $0.02. Analysts had estimated an EPS of $-0.05.

Several Insider Transactions has been reported to the SEC. On May 12, 2016, Ronald Edward Harbour (director) sold 2,000 shares at $5.89 per share price.Also, 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.

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