SpartanNash (NASDAQ:SPTN) Lifted to “Hold” at ValuEngine

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ValuEngine upgraded shares of SpartanNash (NASDAQ:SPTN) from a sell rating to a hold rating in a research report released on Friday morning, ValuEngine reports.

Several other equities research analysts have also issued reports on SPTN. Barclays dropped their price objective on shares of SpartanNash from $13.00 to $8.00 and set an underweight rating for the company in a research report on Tuesday, August 13th. Zacks Investment Research downgraded shares of SpartanNash from a hold rating to a sell rating in a research note on Tuesday, May 7th. BidaskClub upgraded shares of SpartanNash from a strong sell rating to a sell rating in a research note on Wednesday, July 31st. Loop Capital initiated coverage on shares of SpartanNash in a research note on Tuesday, June 25th. They issued a buy rating and a $15.00 target price for the company. Finally, BMO Capital Markets downgraded shares of SpartanNash from a market perform rating to an underperform rating and decreased their target price for the company from $13.00 to $8.00 in a research note on Friday, August 2nd. Four analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. SpartanNash has a consensus rating of Hold and an average price target of $13.00.

SpartanNash stock opened at $11.41 on Friday. SpartanNash has a 52-week low of $8.82 and a 52-week high of $23.00. The firm has a fifty day moving average of $11.04 and a 200-day moving average of $14.81. The firm has a market capitalization of $416.16 million, a P/E ratio of 6.10, a PEG ratio of 1.29 and a beta of 1.37. The company has a quick ratio of 0.82, a current ratio of 1.76 and a debt-to-equity ratio of 1.40.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. SpartanNash had a net margin of 0.05% and a return on equity of 7.07%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that SpartanNash will post 1.27 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of SpartanNash by 203.4% during the fourth quarter. Bank of America Corp DE now owns 63,731 shares of the company’s stock worth $1,094,000 after purchasing an additional 42,722 shares in the last quarter. Norges Bank acquired a new position in shares of SpartanNash during the fourth quarter worth $13,997,000. Meeder Asset Management Inc. increased its position 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. Nisa Investment Advisors LLC increased its position in shares of SpartanNash by 1,623.4% during the first quarter. Nisa Investment Advisors LLC now owns 13,270 shares of the company’s stock worth $211,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Strs Ohio increased its position in shares of SpartanNash by 10.5% during the first quarter. Strs Ohio now owns 42,200 shares of the company’s stock worth $669,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 84.63% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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