SpartanNash (NASDAQ:SPTN) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Thursday, ValuEngine reports.
A number of other research analysts also recently weighed in on the company. Loop Capital initiated coverage on SpartanNash in a research note on Tuesday, June 25th. They issued a “buy” rating and a $15.00 price target for the company. BidaskClub upgraded SpartanNash from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Barclays decreased their price target on SpartanNash from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Tuesday, May 21st. BMO Capital Markets set a $13.00 price target on SpartanNash and gave the company a “hold” rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research downgraded SpartanNash from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Six research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $15.17.
Shares of NASDAQ:SPTN traded down $2.17 during mid-day trading on Thursday, reaching $9.40. 1,172,190 shares of the stock were exchanged, compared to its average volume of 294,947. The company has a current ratio of 1.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $429.23 million, a P/E ratio of 7.58, a P/E/G ratio of 1.27 and a beta of 1.37. SpartanNash has a one year low of $9.00 and a one year high of $24.31. The business’s 50 day moving average price is $11.42.
SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Monday, May 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.51 billion. SpartanNash had a return on equity of 7.77% and a net margin of 0.35%. SpartanNash’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. As a group, research analysts forecast that SpartanNash will post 1.33 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in shares of SpartanNash in the second quarter valued at approximately $35,000. Advisor Group Inc. lifted its position in shares of SpartanNash by 28.4% in the fourth quarter. Advisor Group Inc. now owns 3,213 shares of the company’s stock valued at $55,000 after buying an additional 711 shares during the last quarter. Quantamental Technologies LLC lifted its position in shares of SpartanNash by 35.5% in the first quarter. Quantamental Technologies LLC now owns 3,859 shares of the company’s stock valued at $61,000 after buying an additional 1,011 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of SpartanNash by 270.5% in the first quarter. Meeder Asset Management Inc. now owns 5,758 shares of the company’s stock valued at $91,000 after buying an additional 4,204 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of SpartanNash by 126.1% in the first quarter. BNP Paribas Arbitrage SA now owns 7,540 shares of the company’s stock valued at $120,000 after buying an additional 4,205 shares during the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.
SpartanNash Company Profile
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 stock-keeping units, such as dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
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