SPAR

[eliteG]

SPAR(nasdaq) - Spartan Motors Inc.

Mkt Cap:              194.10M
Float:                     11.55M

Profile:   Spartan Motors, Inc. (Nasdaq: SPAR) is a world leader in the engineering, design and manufacturing of heavy-duty custom motorhome chassis, fire truck chassis and cabs, fire apparatus, ambulances and emergency-rescue vehicles. Leading motorhome and fire truck original equipment manufacturers (OEMs) use Spartan custom chassis as the foundation of their vehicles. Our fire apparatus and ambulances are used in municipalities throughout North America and the world. Spartan Motors has grown by leveraging its technological innovation and engineering expertise across the market niches we serve. Our vehicles and our brands – Spartan®, Crimson Fire® and Road Rescue® – are recognized in their niches for quality, value, innovation and ease of service.

Company Website[/url]


What makes this stock "On Fire"?
Excellent earnings report, expansion, great financial shape, and of course a killer chart.

Here is the quarter revenue and eps history:



This earnings report created the huge gap at then end of April:

Spartan Motors Reports Record Sales, Doubles Earnings in First Quarter
Thursday April 27, 7:45 am ET
Consolidated Backlog Up 35.1 Percent; Return on Invested Capital Improves 94.6 Percent
http://biz.yahoo.com/prnews/060427/nyth062.html?.v=50

- net sales of $103.7 million
- earnings of $4.5 million, or $0.35 per diluted share
- fifth consecutive quarter of increasing earnings
- Spartan's consolidated backlog was $181.7 million
- Spartan Motors anticipates filling all its current backlog orders by December 31, 2006.
- the company ended the quarter with $11.0 million in cash, cash equivalents and investment securities.

There is also recent news of expansion:

Spartan Chassis to Build New $14.5 Million Cab & Chassis Production Facility
Thursday June 15, 9:23 am ET
Record Orders, Highlighted by Best-Ever Month in May for Fire Truck Chassis, Spur Expansion
http://biz.yahoo.com/prnews/060615/deth006.html?.v=54

Market cap is a low 194.1million.. estimated fwd PE ~12.. seems like we have a solid company with room to grow.  


Technicals
The long-term charts show a 3-year symetrical triangle breakout.. and the beginning of a volume injection.  The shorter-term chart displays an ascending triangle on top of the gap up.  This seems to be breaking now and moving averages are below for support.  This formation offers us a low risk/high reward situation.  Lets get in before the break of 16.. this is where the action should begin.  

All History Chart  


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3-year weekly  


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7-month  



We will buy SPAR on Friday 6/30

[eliteG]

update SPAR:

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Position: boght SPAR @ 15.35 on 06/30/2006
Order: Hold
Exit: ] n/a
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[eliteG]

update SPAR:

SPAR has been hit because of a downgrade.  We still like this stock because volume has been nice... the bounce today from the 50ma and triangle bottom is very nice    Lets put in our stop 7% away from our entry.

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Position: boght SPAR @ 15.35 on 06/30/2006
Order: Hold
Exit: stop @ 14.28
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[eliteG]

update SPAR:

Great looking move!  Breakout coming up? 
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Position: boght SPAR @ 15.35 on 06/30/2006
Order: Hold
Exit: stop @ 14.28
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[SmartWrasse]

I like the pick G.  Bogus downgrade...

[realcoolhead]

excellent report! What's the upside target?

[Ramsburg]

Update:
SPAR is now trading inside a large ascending channel, volatility has been high and sometimes the stock moves a bit erratic. Its time to upgrade our stop here and setup an exit strategy, so the new trading plan is:

Trading Plan:
Hold SPAR with a stop @ $16.25 and a Limit Sell order @ $18.00

Regards,

[Ramsburg]

Update:
SPAR is still trading inside the ascending pattern, we'll keep the same plan:

Trading Plan:
Hold SPAR with a stop @ $16.25 and a Limit Sell order @ $18.00

Regards,

[cdrankwalter]

May 1st Spar reports, should rise on blowout earnings and future guidance