SpartanNash (SPTN) Upgraded at BidaskClub

BidaskClub upgraded shares of SpartanNash (NASDAQ:SPTN) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

SPTN has been the topic of several other research reports. ValuEngine lowered SpartanNash from a sell rating to a strong sell rating in a research note on Monday, July 30th. Zacks Investment Research lowered SpartanNash from a hold rating to a sell rating in a research note on Wednesday, August 1st. Deutsche Bank decreased their target price on SpartanNash from $21.00 to $20.00 and set a hold rating on the stock in a research note on Friday, August 17th. Finally, BMO Capital Markets set a $23.00 target price on SpartanNash and gave the stock a buy rating in a research note on Friday, August 17th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $21.80.

SPTN traded down $3.82 during mid-day trading on Tuesday, hitting $18.00. 6,853 shares of the stock were exchanged, compared to its average volume of 114,089. SpartanNash has a 1-year low of $16.32 and a 1-year high of $27.72. The company has a current ratio of 2.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.97. The firm has a market cap of $684.52 million, a price-to-earnings ratio of 8.59, a PEG ratio of 1.37 and a beta of 1.17.

SpartanNash (NASDAQ:SPTN) last posted its earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. SpartanNash had a positive return on equity of 10.23% and a negative net margin of 0.72%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company earned $0.54 EPS. SpartanNash’s revenue was up 1.0% on a year-over-year basis. On average, research analysts forecast that SpartanNash will post 1.99 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new position in shares of SpartanNash in the 3rd quarter valued at about $102,000. Sun Life Financial INC purchased a new position in shares of SpartanNash in the 2nd quarter valued at about $134,000. Piedmont Investment Advisors LLC purchased a new position in shares of SpartanNash in the 2nd quarter valued at about $213,000. Xact Kapitalforvaltning AB purchased a new position in shares of SpartanNash in the 2nd quarter valued at about $227,000. Finally, Creative Planning purchased a new position in shares of SpartanNash in the 2nd quarter valued at about $256,000. Institutional investors and hedge funds own 84.94% of the company’s stock.

About SpartanNash

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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Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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