Zacks Investment Research upgraded shares of Sparton Corporation (NYSE:SPA) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “SPARTON CORP. ‘s continuing operations are principally in one line of business, the development and manufacture of electronic parts and assemblies. SPARTON CORP.’s products and services include microprocessor-based systems, transducers, printed circuit boards and assemblies, sensors and electronic and electromechanical contract manufacturing for the telecommunications, medical, electronics and other industries. “
A number of other brokerages have also recently commented on SPA. CJS Securities cut shares of Sparton Corporation from an outperform rating to a market perform rating and set a $24.00 price target on the stock. in a research report on Tuesday, September 20th. B. Riley reaffirmed a neutral rating and set a $24.00 price target on shares of Sparton Corporation in a research report on Tuesday, November 8th. Five analysts have rated the stock with a hold rating, Sparton Corporation currently has a consensus rating of Hold and a consensus target price of $22.00.
Shares of Sparton Corporation (NYSE:SPA) opened at 21.91 on Wednesday. The firm’s market cap is $214.54 million. The company has a 50 day moving average price of $23.67 and a 200-day moving average price of $23.44. Sparton Corporation has a 52-week low of $11.19 and a 52-week high of $26.43.
Sparton Corporation (NYSE:SPA) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.11. The firm had revenue of $100.40 million for the quarter, compared to the consensus estimate of $100.62 million. Sparton Corporation had a negative net margin of 9.82% and a positive return on equity of 12.77%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. On average, analysts expect that Sparton Corporation will post $1.21 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in Sparton Corporation by 1.0% in the third quarter. California State Teachers Retirement System now owns 19,858 shares of the company’s stock worth $521,000 after buying an additional 200 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Sparton Corporation by 10.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 149,089 shares of the company’s stock worth $3,915,000 after buying an additional 14,604 shares during the period. BlackRock Fund Advisors boosted its position in Sparton Corporation by 8.8% in the third quarter. BlackRock Fund Advisors now owns 263,728 shares of the company’s stock worth $6,925,000 after buying an additional 21,391 shares during the period. Metropolitan Life Insurance Co. NY bought a new position in Sparton Corporation during the second quarter worth about $167,000. Finally, Engine Capital Management LLC boosted its position in Sparton Corporation by 0.6% in the second quarter. Engine Capital Management LLC now owns 369,878 shares of the company’s stock worth $8,052,000 after buying an additional 2,091 shares during the period. 66.46% of the stock is currently owned by institutional investors.
Sparton Corporation Company Profile
Sparton Corporation is a provider of design, development and manufacturing services for electromechanical devices, as well as engineered products complementary to the same electromechanical value stream. The Company operates through two segments: Manufacturing & Design Services (MDS) and Engineered Components & Products (ECP).
By Scott Moore