Shares of Spartan Motors (Nasdaq:SPAR) were gapping up Wednesday morning with an open price 10.5% higher than Tuesday's closing price. The stock closed at $4.55 yesterday and opened today's trading at $5.03.
NEW YORK ( TheStreet) -- Shares of Spartan Motors (Nasdaq: SPAR) were gapping up Wednesday morning with an open price 10.5% higher than Tuesday's closing price. The stock closed at $4.55 Tuesday and opened today's trading at $5.03. The average volume for Spartan has been 176,900 shares per day over the past 30 days. Spartan has a market cap of $161.7 million and is part of the consumer goods sector and automotive industry. Shares are down 25.3% year to date as of the close of trading on Tuesday. Spartan Motors, Inc., together with its subsidiaries, designs, engineers, manufactures, and sells specialized motor vehicle chassis and bodies in the United States and Canada. It operates in two segments, Specialty Vehicle, and Service and Delivery Vehicles. The company has a P/E ratio of 24.2, below the average automotive industry P/E ratio of 44 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Spartan as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, poor profit margins and weak operating cash flow. You can view the full Spartan Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.