The stock of SP Plus Corp (NASDAQ:SP) reached all time high today, Nov, 24 and still has $29.43 target or 4.00% above today’s $28.30 share price. This indicates more upside for the $630.42M company. This technical setup was reported by Barchart.com. If the $29.43 PT is reached, the company will be worth $25.22M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 2.17% or $0.6 on November 23, hitting $28.3. About 64,968 shares traded hands or 15.25% up from the average. SP Plus Corp (NASDAQ:SP) has risen 25.61% since April 22, 2016 and is uptrending. It has outperformed by 20.20% the S&P500.
Analysts await SP Plus Corp (NASDAQ:SP) to report earnings on March, 6. They expect $0.36 EPS, up 24.14% or $0.07 from last year’s $0.29 per share. SP’s profit will be $8.02 million for 19.65 P/E if the $0.36 EPS becomes a reality. After $0.37 actual EPS reported by SP Plus Corp for the previous quarter, Wall Street now forecasts -2.70% negative EPS growth.
SP Plus Corp (NASDAQ:SP) Ratings Coverage
Out of 2 analysts covering SP Plus (NASDAQ:SP), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. SP Plus has been the topic of 2 analyst reports since September 4, 2015 according to StockzIntelligence Inc. UBS maintained it with “Buy” rating and $93 target price in Friday, September 4 report. Barrington Research maintained SP Plus Corp (NASDAQ:SP) on Monday, November 9 with “Outperform” rating.
According to Zacks Investment Research, “SP Plus Corporation provides professional parking, ground transportation, facility maintenance, security and event logistics services to property owners and managers in all markets of the real estate industry. The Company also provides a range of ancillary services, such as airport shuttle operations, taxi and livery dispatch services and municipal meter revenue collection and enforcement services. Its clients include owners of office building complexes, shopping centers, sports complexes, hotels, hospitals, and various airports. SP Plus Corporation, formerly known as Standard Parking Corporation, is based in United States.”
Insitutional Activity: The institutional sentiment increased to 1.81 in 2016 Q2. Its up 0.33, from 1.48 in 2016Q1. The ratio is positive, as 9 funds sold all SP Plus Corp shares owned while 22 reduced positions. 6 funds bought stakes while 40 increased positions. They now own 16.22 million shares or 3.64% less from 16.83 million shares in 2016Q1.
Voya Investment Mgmt Ltd Com holds 0% of its portfolio in SP Plus Corp (NASDAQ:SP) for 11,040 shares. Axa holds 0% of its portfolio in SP Plus Corp (NASDAQ:SP) for 27,350 shares. Tiaa Cref Inv Management Limited Co holds 0% or 71,490 shares in its portfolio. Victory Cap Mngmt Incorporated has invested 0% of its portfolio in SP Plus Corp (NASDAQ:SP). Blackrock Inv Management Limited has invested 0% of its portfolio in SP Plus Corp (NASDAQ:SP). Great West Life Assurance Can last reported 0% of its portfolio in the stock. Ameriprise holds 177,366 shares or 0% of its portfolio. First Advsrs Limited Partnership has invested 0% of its portfolio in SP Plus Corp (NASDAQ:SP). Moreover, Alphaone Investment Services Ltd Llc has 1% invested in SP Plus Corp (NASDAQ:SP) for 120,607 shares. River Road Asset Management accumulated 0.67% or 1.40M shares. Moreover, Citigroup has 0% invested in SP Plus Corp (NASDAQ:SP) for 2,651 shares. State Board Of Administration Of Florida Retirement holds 0% or 14,685 shares in its portfolio. Geode Llc, a Massachusetts-based fund reported 127,883 shares. Nuveen Asset Mgmt Limited Liability Com holds 0.02% or 133,027 shares in its portfolio. Ig Inv Limited accumulated 0% or 54,708 shares.
Another recent and important SP Plus Corp (NASDAQ:SP) news was published by Globenewswire.com which published an article titled: “SP Plus Corporation to Release Second Quarter 2016 Results on August 3, 2016” on July 20, 2016.
SP Company Profile
SP Plus Corporation (SP Plus), incorporated on September 24, 1981, is a well-known provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Firm operates through six divisions: Region One, Region Two, Region Three, Region Four, Region Five and Other. Region One includes the Company’s activities in Delaware, District of Columbia, Illinois, Indiana, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Northern California, Ohio, Oregon, Pennsylvania, Rhode Island, Virginia, Washington, West Virginia, Wisconsin and the three Canadian provinces of Alberta, Ontario, and Quebec. Region Two includes activities in Alabama, Arizona, Colorado, Florida, Georgia, Hawaii, Kansas, Louisiana, Mississippi, Missouri, Nebraska, New Mexico, North Carolina, Oklahoma, South Carolina, Southern California, Tennessee, Texas, Utah and Puerto Rico. Region Three includes the New York metropolitan tri-state area of New York, New Jersey and Connecticut. Region Four includes the Company’s airport and transportation activities across the nation. Region Five includes other reporting units of the United States parking and event planning and transportation services.
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