TheStreet downgraded shares of SpartanNash (NASDAQ:SPTN) from a c rating to a d+ rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.
Several other equities analysts have also issued reports on SPTN. Loop Capital started coverage on SpartanNash in a research note on Tuesday, June 25th. They set a buy rating and a $15.00 target price on the stock. Barclays cut their price target on SpartanNash from $13.00 to $8.00 and set an underweight rating on the stock in a report on Tuesday, August 13th. BMO Capital Markets downgraded SpartanNash from a market perform rating to an underperform rating and cut their price target for the stock from $13.00 to $8.00 in a report on Friday, August 2nd. Pivotal Research upgraded SpartanNash from a sell rating to a hold rating and cut their price target for the stock from $10.00 to $9.00 in a report on Thursday. Finally, BidaskClub upgraded SpartanNash from a strong sell rating to a sell rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $13.00.
SPTN opened at $11.41 on Wednesday. The stock’s 50-day moving average price is $11.04 and its 200 day moving average price is $14.81. SpartanNash has a 12-month low of $8.82 and a 12-month high of $23.00. 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 firm has a market cap of $324.65 million, a price-to-earnings ratio of 6.10, a PEG ratio of 1.01 and a beta of 1.37.
SpartanNash (NASDAQ:SPTN) last posted its earnings results on Wednesday, August 14th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. SpartanNash had a return on equity of 7.00% and a net margin of 0.05%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company earned $0.56 EPS. SpartanNash’s revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that SpartanNash will post 1.27 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of SpartanNash by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 56,331 shares of the company’s stock valued at $657,000 after acquiring an additional 870 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of SpartanNash by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 24,411 shares of the company’s stock valued at $387,000 after acquiring an additional 892 shares during the last quarter. Ibex Investors LLC increased its holdings in shares of SpartanNash by 2.0% in the 1st quarter. Ibex Investors LLC now owns 47,967 shares of the company’s stock valued at $761,000 after acquiring an additional 950 shares during the last quarter. Comerica Bank increased its holdings in shares of SpartanNash by 0.9% in the 1st quarter. Comerica Bank now owns 103,848 shares of the company’s stock valued at $1,747,000 after acquiring an additional 973 shares during the last quarter. Finally, Quantamental Technologies LLC increased its holdings in shares of SpartanNash by 35.5% in the 1st quarter. Quantamental Technologies LLC now owns 3,859 shares of the company’s stock valued at $61,000 after acquiring an additional 1,011 shares during the last quarter. Institutional investors and hedge funds own 84.63% 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 retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
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