Spartan Motors Down 8.5%, Despite Beating Estimates (SPAR)

Despite beating Wall Street estimates, shares of Charlotte, Michigan-based Spartan Motors, Inc. SPAR are currently down 8.5% at $6.89 per share during Tuesday afternoon trading. Today's trading range for shares of Spartan Motors, Inc has been between $6.79 and $7.49 per share. The consensus price target of analysts covering the company's stock is $6.83 per share. Volume of 353,000 shares is more than double the daily average volume of 170,000 shares. Spartan Motors, Inc. (SPAR) released financial results early Tuesday morning that beat Wall Street estimates. Spartan Motors, Inc reported 4th quarter earnings of 10 cents per share, on revenue of $126.88 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 9 cents per share, on revenue of $117.94 million. Spartan Motors, Inc designs, engineers and manufactures specialty chassis, specialty vehicles, truck bodies and aftermarket parts for the recreational vehicle (RV) emergency-response, defense, government services, delivery and service markets. Read more from Benzinga's Company news.