Stock Rating Downgrade
The Value Trend Rating for SP Plus Corp (NASDAQ: SP) weakened in the last week from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
SP Plus Corp (NASDAQ: SP) stock rose slightly by 0.04% on 3/1/24. The stock closed at $51.43. Moreover, above average trading volume at 135% of normal accompanied the advance. The stock is unchanged during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
SP’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
SP Plus has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. SP Plus has a poor Appreciation Score of 18 but a very high Power Rating of 89, with the Neutral Value Trend Rating the result.
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