Sparton Corp. (NYSE:SPA)‘s stock had its “neutral” rating reiterated by analysts at B. Riley in a research note issued to investors on Tuesday. They presently have a $24.00 target price on the stock. B. Riley’s target price would indicate a potential downside of 1.15% from the company’s previous close.
SPA has been the topic of a number of other research reports. CJS Securities cut shares of Sparton Corp. from an “outperform” rating to a “market perform” rating and set a $24.00 target price on the stock. in a research note on Tuesday, September 20th. Zacks Investment Research raised shares of Sparton Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Sparton Corp. has an average rating of “Hold” and a consensus target price of $22.00.
Sparton Corp. (NYSE:SPA) traded down 1.26% during trading on Tuesday, reaching $24.28. The company’s stock had a trading volume of 11,899 shares. The stock’s 50-day moving average is $24.06 and its 200 day moving average is $22.51. Sparton Corp. has a 12 month low of $11.19 and a 12 month high of $26.43. The company’s market cap is $237.75 million.
Sparton Corp. (NYSE:SPA) last posted its earnings results on Tuesday, November 8th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by $0.11. The company had revenue of $100.40 million for the quarter, compared to the consensus estimate of $100.62 million. Sparton Corp. had a positive return on equity of 12.77% and a negative net margin of 9.82%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. On average, equities analysts forecast that Sparton Corp. will post $1.21 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of SPA. Acrospire Investment Management LLC purchased a new position in Sparton Corp. during the third quarter valued at about $125,000. The Manufacturers Life Insurance Company purchased a new position in Sparton Corp. during the third quarter valued at about $172,000. Metropolitan Life Insurance Co. NY purchased a new position in Sparton Corp. during the second quarter valued at about $167,000. Highbridge Capital Management LLC purchased a new position in Sparton Corp. during the third quarter valued at about $236,000. Finally, Morgan Stanley raised its position in Sparton Corp. by 105.6% in the third quarter. Morgan Stanley now owns 9,663 shares of the company’s stock valued at $254,000 after buying an additional 4,963 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors.
About Sparton Corp.