SP Plus Corp (SP) – Don’t Be So Quick to Call it Dead

SP Plus Corp (NASDAQ: SP) is -0.27% lower on its value in year-to-date trading and has touched a low of $31.52 and a high of $52.40 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SP stock was last observed hovering at around $51.50 in the last trading session, with the day’s loss setting it -0.39%.

Currently trading at $51.11, the stock is -1.01% and -0.47% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.83 million and changing -0.76% at the moment leaves the stock 17.54% off its SMA200. SP registered 36.95% gain for a year compared to 6-month gain of 24.20%. The firm has a 50-day simple moving average (SMA 50) of $0.88 and a 200-day simple moving average (SMA200) of $13.48.

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The stock witnessed a -0.20% loss in the last 1 month and extending the period to 3 months gives it a -0.56%, and is -1.52% 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 0.92% over the week and 0.65% over the month.

SP Plus Corp (SP) has around 19000 employees, a market worth around $1.01B and $1.74B in sales. Current P/E ratio is 29.36 and Fwd P/E is 14.36. Profit margin for the company is 1.99%. Distance from 52-week low is 62.15% and -2.46% from its 52-week high. The company has generated returns on investments over the last 12 months (4.61%).

SP Plus Corp quarterly earnings per share for the current quarter are estimated at $0.85 with sales reaching $228M over the same period.The EPS is expected to grow by 7.91% this year, but quarterly earnings will post 12.50% year-over-year. Quarterly sales are estimated to grow 10.50% in year-over-year returns.

233 institutions hold shares in SP Plus Corp (SP), with institutional investors hold 101.67% of the company’s shares. The shares outstanding are 19.77M, and float is at 19.02M with Short Float at 6.56%. Institutions hold 98.60% of the Float.

The top institutional shareholder in the company is River Road Asset Management, LLC with over 1.64 million shares valued at $64.12 million. The investor’s holdings represent 8.34% of the SP Shares outstanding. As of Jun 29, 2023, the second largest holder is Wellington Management Group, LLP with 1.61 million shares valued at $62.8 million to account for 8.17% of the shares outstanding. The other top investors are Blackrock Inc. which holds 1.39 million shares representing 7.08% and valued at over $54.42 million, while Segall Bryant & Hamill, Llc holds 6.75% of the shares totaling 1.33 million with a market value of $51.89 million.

SP Plus Corp (SP) Insider Activity

A total of 0 insider transactions have happened at SP Plus Corp (SP) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider sale by Baumann G Marc, the company’s Chairman & CEO. SEC filings show that Baumann G Marc sold 10,408 shares of the company’s common stock on Feb 27 at a price of $34.36 per share for a total of $0.36 million. Following the sale, the insider now owns 0.18 million shares.

SP Plus Corp disclosed in a document filed with the SEC on Feb 16 that Baumann G Marc (Chairman & CEO) sold a total of 2,000 shares of the company’s common stock. The trade occurred on Feb 16 and was made at $39.00 per share for $78000.0. Following the transaction, the insider now directly holds 0.19 million shares of the SP stock.

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

One of the company’s main competitors (and peers) include Maximus Inc. (MMS) that is trading -6.11% down over the past 12 months.Cintas Corp. (CTAS) lies in the list of competitors of the SP Plus Corp and is 39.36% higher over the same period from SPABM Industries Inc. (ABM) is -15.86% down on the 1-year trading charts.