SpartanNash (NASDAQ:SPTN) Rating Increased to Sell at ValuEngine

ValuEngine upgraded shares of SpartanNash (NASDAQ:SPTN) from a strong sell rating to a sell rating in a report published on Thursday morning, ValuEngine reports.

A number of other analysts also recently issued reports on SPTN. Barclays dropped their price objective on shares of SpartanNash from $15.00 to $13.00 and set an underweight rating for the company in a report on Tuesday, May 21st. Loop Capital began coverage on shares of SpartanNash in a report on Tuesday, June 25th. They set a buy rating and a $15.00 price objective for the company. Zacks Investment Research downgraded shares of SpartanNash from a hold rating to a sell rating in a report on Tuesday, May 7th. BidaskClub raised shares of SpartanNash from a strong sell rating to a sell rating in a report on Wednesday, July 31st. Finally, Pivotal Research dropped their price objective on shares of SpartanNash from $12.00 to $10.00 and set a sell rating for the company in a report on Tuesday, June 11th. Six research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $15.17.

NASDAQ:SPTN traded up $0.13 during trading hours on Thursday, hitting $9.53. The stock had a trading volume of 8,240 shares, compared to its average volume of 312,708. The business’s 50 day moving average price is $11.42. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.90 and a quick ratio of 0.82. SpartanNash has a one year low of $9.00 and a one year high of $24.31. The stock has a market cap of $341.35 million, a price-to-earnings ratio of 5.10, a price-to-earnings-growth ratio of 1.01 and a beta of 1.37.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Monday, May 20th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. SpartanNash had a net margin of 0.35% and a return on equity of 7.77%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the firm earned $0.55 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Research analysts predict that SpartanNash will post 1.33 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. raised its position in SpartanNash by 28.4% in the 4th quarter. Advisor Group Inc. now owns 3,213 shares of the company’s stock worth $55,000 after purchasing an additional 711 shares during the period. Arizona State Retirement System raised its position in SpartanNash by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 56,331 shares of the company’s stock worth $657,000 after purchasing an additional 870 shares during the period. United Services Automobile Association raised its position in SpartanNash by 7.0% in the 4th quarter. United Services Automobile Association now owns 13,345 shares of the company’s stock worth $229,000 after purchasing an additional 876 shares during the period. Texas Permanent School Fund raised its position in SpartanNash by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 24,411 shares of the company’s stock worth $387,000 after purchasing an additional 892 shares during the period. Finally, Ibex Investors LLC raised its position in SpartanNash by 2.0% in the 1st quarter. Ibex Investors LLC now owns 47,967 shares of the company’s stock worth $761,000 after purchasing an additional 950 shares during the period. 84.24% of the stock is owned by institutional investors.

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.

See Also: Cost of Goods Sold (COGS)

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Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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