SpartanNash (NASDAQ:SPTN) Upgraded by Zacks Investment Research to Hold

SpartanNash (NASDAQ:SPTN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “SpartanNash Co. is a food distributor serving military commissaries and exchanges in the United States. The company’s core businesses include distributing food to military commissaries and exchanges and independent and corporate-owned retail stores located in 44 states and the District of Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain and Egypt. It operates supermarkets, primarily under the banners of Family Fare Supermarkets, No Frills, Bag ‘n Save and Econofoods. SpartanNash Co., formerly known as Spartan Stores, Inc., is headquartered in United States. “

A number of other equities research analysts also recently issued reports on SPTN. Pivotal Research raised SpartanNash from a “sell” rating to a “hold” rating and lowered their price target for the company from $10.00 to $9.00 in a research report on Thursday, August 15th. Loop Capital assumed coverage on SpartanNash in a research report on Tuesday, June 25th. They set a “buy” rating and a $15.00 price target for the company. ValuEngine raised SpartanNash from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. TheStreet downgraded SpartanNash from a “c” rating to a “d+” rating in a research report on Wednesday, August 14th. Finally, BidaskClub upgraded SpartanNash from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $13.00.

SPTN stock opened at $11.33 on Thursday. The stock has a 50-day moving average price of $11.01 and a two-hundred day moving average price of $14.66. SpartanNash has a 12-month low of $8.82 and a 12-month high of $23.00. The company has a current ratio of 1.76, a quick ratio of 0.75 and a debt-to-equity ratio of 1.40. The company has a market cap of $411.39 million, a PE ratio of 6.06, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. SpartanNash had a return on equity of 7.07% and a net margin of 0.05%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that SpartanNash will post 1.28 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC acquired a new position in shares of SpartanNash during the second quarter worth about $35,000. Quantamental Technologies LLC lifted its stake in shares of SpartanNash by 35.5% during the first quarter. Quantamental Technologies LLC now owns 3,859 shares of the company’s stock worth $61,000 after purchasing an additional 1,011 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of SpartanNash by 270.5% during the first quarter. Meeder Asset Management Inc. now owns 5,758 shares of the company’s stock worth $91,000 after purchasing an additional 4,204 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of SpartanNash by 126.1% during the first quarter. BNP Paribas Arbitrage SA now owns 7,540 shares of the company’s stock worth $120,000 after purchasing an additional 4,205 shares in the last quarter. Finally, Glen Harbor Capital Management LLC lifted its stake in shares of SpartanNash by 14.3% during the second quarter. Glen Harbor Capital Management LLC now owns 8,736 shares of the company’s stock worth $102,000 after purchasing an additional 1,092 shares in the last quarter. Institutional investors own 84.43% 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 retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

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