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 yesterday at $31.31, close to its 52-week low of $30.49.
Steinke commented:
“We are increasing our 2018 adjusted EPS estimate to $2.24 (from $2.23), while our 2019 adjusted EPS estimate remains $2.36. The company will disclose more financial information about Bags once the acquisition closes. In the interim, we maintain our 12-month price target of $43, which continues to assume an EV/NTM EBITDA multiple of 10x one year from now. Our investment rating remains OUTPERFORM.”
According to TipRanks.com, Steinke is a 1-star analyst with an average return of -2.1% and a 44.7% success rate. Steinke covers the Services sector, focusing on stocks such as Cross Country Healthcare, Echo Global Logistics, and Heidrick & Struggles.
Currently, the analyst consensus on SP Plus Corporation is a Moderate Buy with an average price target of $43.
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SP Plus Corporation’s market cap is currently $711.7M and has a P/E ratio of 13.55. The company has a Price to Book ratio of 1.98.
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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.
