BidaskClub upgraded shares of SpartanNash (NASDAQ:SPTN) from a sell rating to a hold rating in a research report released on Thursday.
Several other equities research analysts also recently issued reports on SPTN. Zacks Investment Research raised shares of SpartanNash from a hold rating to a buy rating and set a $21.00 price objective for the company in a research report on Tuesday, May 1st. ValuEngine cut shares of SpartanNash from a sell rating to a strong sell rating in a report on Wednesday, May 2nd. Pivotal Research restated a sell rating and set a $15.00 target price on shares of SpartanNash in a report on Friday, May 25th. BMO Capital Markets set a $25.00 target price on shares of SpartanNash and gave the stock a buy rating in a report on Thursday, May 31st. Finally, Barclays increased their target price on shares of SpartanNash from $17.00 to $23.00 and gave the stock an equal weight rating in a report on Thursday, May 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $22.33.
Shares of SPTN stock opened at $19.89 on Thursday. The company has a quick ratio of 0.88, a current ratio of 2.12 and a debt-to-equity ratio of 1.03. SpartanNash has a 12-month low of $16.32 and a 12-month high of $27.72. The firm has a market cap of $847.03 million, a PE ratio of 9.47, a P/E/G ratio of 1.74 and a beta of 1.15.
SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Wednesday, August 15th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.07). SpartanNash had a positive return on equity of 10.44% and a negative net margin of 0.68%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company earned $0.60 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. research analysts anticipate that SpartanNash will post 2.26 EPS for the current fiscal year.
In related news, CEO David M. Staples sold 3,989 shares of the stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $23.00, for a total transaction of $91,747.00. Following the completion of the transaction, the chief executive officer now owns 174,760 shares in the company, valued at $4,019,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David M. Staples sold 1,865 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $25.81, for a total transaction of $48,135.65. Following the transaction, the chief executive officer now owns 168,906 shares of the company’s stock, valued at approximately $4,359,463.86. The disclosure for this sale can be found here. Insiders have sold 67,096 shares of company stock valued at $1,753,571 in the last 90 days. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in SPTN. Sun Life Financial INC acquired a new stake in SpartanNash in the second quarter valued at $134,000. Koch Industries Inc. acquired a new stake in SpartanNash in the first quarter valued at $180,000. Piedmont Investment Advisors LLC acquired a new stake in SpartanNash in the second quarter valued at $213,000. Xact Kapitalforvaltning AB acquired a new stake in SpartanNash in the second quarter valued at $227,000. Finally, Creative Planning acquired a new stake in SpartanNash in the second quarter valued at $256,000. Hedge funds and other institutional investors own 84.44% of the company’s stock.
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 retail locations, food service distributors, and corporate-owned retail stores.
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