SpartanNash (SPTN) Upgraded to “Sell” at ValuEngine

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

A number of other analysts have also commented on the stock. BidaskClub lowered shares of SpartanNash from a hold rating to a sell rating in a report on Friday, September 28th. BMO Capital Markets lowered shares of SpartanNash from an outperform rating to a market perform rating and set a $23.00 price target for the company. in a report on Thursday. Zacks Investment Research raised shares of SpartanNash from a sell rating to a hold rating in a report on Thursday, August 16th. Finally, Deutsche Bank decreased their price target on shares of SpartanNash from $21.00 to $20.00 and set a hold rating for the company in a report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company has an average rating of Hold and a consensus target price of $21.80.

SPTN traded down $5.23 during trading on Thursday, reaching $16.59. 673,703 shares of the company’s stock were exchanged, compared to its average volume of 236,447. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 2.06. SpartanNash has a fifty-two week low of $16.10 and a fifty-two week high of $27.72. The firm has a market capitalization of $684.52 million, a PE ratio of 7.90, a P/E/G ratio of 1.37 and a beta of 1.17.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Wednesday, November 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. SpartanNash had a negative net margin of 0.72% and a positive return on equity of 10.23%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts forecast that SpartanNash will post 1.99 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Globeflex Capital L P acquired a new position in shares of SpartanNash in the 3rd quarter valued at $307,000. BlackRock Inc. grew its holdings in shares of SpartanNash by 1.6% in the 3rd quarter. BlackRock Inc. now owns 5,263,166 shares of the company’s stock valued at $105,581,000 after buying an additional 84,581 shares during the period. Martingale Asset Management L P grew its holdings in shares of SpartanNash by 237.5% in the 3rd quarter. Martingale Asset Management L P now owns 81,744 shares of the company’s stock valued at $1,640,000 after buying an additional 57,522 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of SpartanNash by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 867,675 shares of the company’s stock valued at $17,406,000 after buying an additional 10,490 shares during the period. Finally, Commonwealth Bank of Australia acquired a new position in shares of SpartanNash in the 3rd quarter valued at $264,000. 84.94% 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 retail locations, food service distributors, and corporate-owned retail stores.

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Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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