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On Thursday, analysts at Barrington Research upgraded shares of Sparton Corporation (NYSE: SPA) to Outperform from Market Perform with a $31 price target.
Rudolf Hokanson stated, ”After attending the Investor Conference, talking to various members of the management team, and touring their DeLeon Springs facility, we have decided to raise our investment rating.”
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Analysts have not changed estimates, but are confident the stock will will appreciate given the strategy and goals the company set forth at the conference on October 8 2014.
Hokanson writes, “Sparton is expecting to have sales in excess of $1 billion by 2020 and to have handsome EBITDA margins on modest debt.”
During the conference management discussed the reasons for a new organizational alignment:
- To provide a flexible and evolutionary structure to enable scalability given their projected future growth.
- To leverage operational and administrative strength in the M&A process to enhance due diligence and integration.
- To address the leadership required to create and implement the Sparton Business System.
Consequently, Sparton will have two operating groups with the ability to to flex the organizational design based upon pace and focus of the Vision 2020 strategy, Hokanson wrote.
Shares of Sparton Corporation closed Thursday’s session at $24.23, up 1 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.