SP Plus Corporation (NASDAQ: SP) growth is a big Buy opportunity

SP Plus Corporation (NASDAQ: SP) is -54.91% lower on its value in year-to-date trading and has touched a low of $14.44 and a high of $47.33 in the current 52-week trading range. The SP stock was last observed hovering at around $18.90 in the last trading session, with the day’s gains setting it 0.23% off its average median price target of $38.00 for the next 12 months. It is also 52.18% off the consensus price target high of $40.00 offered by analysts, but current levels are 46.86% higher than the price target low of $36.00 for the same period.

Currently trading at $19.13, the stock is -13.01% and -7.79% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.26 million and changing 1.22% at the moment leaves the stock -42.89% off its SMA200. SP registered -40.09% loss for a year compared to 6-month loss of -55.22%. The firm has a 50-day simple moving average (SMA 50) of $20.81 and a 200-day simple moving average (SMA200) of $30.04.

The stock witnessed a -6.09% gain in the last 1 month and extending the period to 3 months gives it a -12.97%, and is -7.58% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.37% over the week and 6.50% over the month.

SP Plus Corporation (SP) has around 14700 employees, a market worth around $449.55M and $1.66B in sales. Fwd P/E is 8.26. Profit margin for the company is -0.50%. Distance from 52-week low is 32.48% and -59.58% from its 52-week high. The company has generated returns on investments over the last 12 months (9.50%).

SP Plus Corporation (SP) Analyst Forecasts

SP Plus Corporation is expected to release its quarterly report on 07/29/2020 and quarterly earnings per share for the current quarter are estimated at -$0.01 with sales reaching $143.31M over the same period.The EPS is expected to shrink by -3.90% this year, but quarterly earnings will post -22.10% year-over-year. Quarterly sales are estimated to shrink -38.80% in year-over-year returns.

SP Plus Corporation (SP) Top Institutional Holders

210 institutions hold shares in SP Plus Corporation (SP), with 381.52k shares held by insiders accounting for 1.66% while institutional investors hold 99.18% of the company’s shares. The shares outstanding are 23.00M, and float is at 22.70M with Short Float at 2.97%. Institutions hold 97.53% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 1.71 million shares valued at $35.53 million. The investor’s holdings represent 7.45% of the SP Shares outstanding. As of Mar 30, 2020, the second largest holder is P2 Capital Partners, LLC with 1.59 million shares valued at $33.09 million to account for 6.94% of the shares outstanding. The other top investors are Wellington Management Company, LLP which holds 1.3 million shares representing 5.66% and valued at over $27.03 million, while Dimensional Fund Advisors LP holds 5.14% of the shares totaling 1.18 million with a market value of $24.54 million.

SP Plus Corporation (SP) Insider Activity

A total of 16 insider transactions have happened at SP Plus Corporation (SP) in the last six months, with sales accounting for 4 and purchases happening 12 times. The most recent transaction is an insider sale by Ricchiuto John, the company’s President, Airport Division. SEC filings show that Ricchiuto John sold 5,411 shares of the company’s common stock on Nov 22 at a price of $43.36 per share for a total of $0.23 million. Following the sale, the insider now owns 41978.0 shares.

SP Plus Corporation disclosed in a document filed with the SEC on Nov 14 that KLAISLE GERARD M (Chief Admin Officer) sold a total of 8,000 shares of the company’s common stock. The trade occurred on Nov 14 and was made at $44.20 per share for $0.35 million. Following the transaction, the insider now directly holds 23615.0 shares of the SP stock.

Still, SEC filings show that on Nov 05, Baumann G Marc (President & CEO) disposed off 3,800 shares at an average price of $46.63 for $0.18 million. The insider now directly holds 55,290 shares of SP Plus Corporation (SP).

SP Plus Corporation (SP): Who are the competitors?

The company’s main competitors (and peers) include MAXIMUS Inc. (MMS) that is trading -1.92% down over the past 12 months. ABM Industries Incorporated (ABM) is -8.77% down on the 1-year trading charts. Short interest in the company’s stock has risen 14.25% from the last report on May 14, 2020 to stand at a total of 0.58 million short shares sold with a short interest ratio of 4.1.