Barrington analyst Kevin Steinke maintained a Buy rating on SP Plus Corporation (SP) today and set a price target of $43. The company’s shares closed on Friday at $36.72.
Steinke observed:
“We forecast Q4/18 adjusted gross profit of $43.0 million, up 3.8% YOY. We anticipate that growth will benefit from an easier year-over-year comparison, created by the inclusion of a $1.2 million legal settlement in the year-ago quarter’s adjusted gross profit. the consensus estimate for adjusted gross profit is $43.4 million.”
According to TipRanks.com, Steinke is a 1-star analyst with an average return of -0.2% and a 55.2% success rate. Steinke covers the Services sector, focusing on stocks such as Echo Global Logistics, Heidrick & Struggles, and Icf International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SP Plus Corporation with a $43 average price target.
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SP Plus Corporation’s market cap is currently $834.6M and has a P/E ratio of 15.90. The company has a Price to Book ratio of 2.33.
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SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.
