Barrington analyst Kevin Steinke maintained a Buy rating on SP Plus Corporation (NASDAQ: SP) today and set a price target of $42. The company’s shares opened today at $36.55.
Steinke commented:
“We maintain our 12-month price target of $42, which assumes an EV/NTM EBITDA multiple of 10x compared to the current multiple of 9.9x (based on our estimates). Our investment rating is OUTPERFORM. Opinion OUTPERFORM (12 mo) $42 15% LT EPS Cap (mil) $823 Enterprise Value (mil) $940 Shares Outstanding (mil) 22.6 Volume 93,723 Financial / Valuation ROE (non-GAAP) 13.5% LT Debt/Capital 30.6% EV/EBITDA (LTM) 10.3x Kevin M. Steinke, CFA (312) 634-6392 FactSet Research Systems Gross Profit ($ mil)(est. In Adjusted EPS ($)(est.”
According to TipRanks.com, Steinke is a 3-star analyst with an average return of 5.7% and a 51.0% success rate. Steinke covers the Services sector, focusing on stocks such as Cross Country Healthcare, Echo Global Logistics, and Heidrick & Struggles.
SP Plus Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $42.
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The company has a one-year high of $41.70 and a one-year low of $28.10. Currently, SP Plus Corporation has an average volume of 91.6K.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock.
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SP Plus Corp. engages in the provision of parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients. It operates through the following segments: Region One, Region Two, and Other.
