Pivotal Research upgraded shares of SpartanNash (NASDAQ:SPTN) from a sell rating to a hold rating in a report published on Thursday, AnalystRatings.com reports. Pivotal Research currently has $9.00 target price on the stock, down from their prior target price of $10.00.
“We remain below the latest guidance range with a revised FY19 EPS est. of $1.11 (down from $1.16) and EBITDA est. of $179 million (from $182 million). Consistent with SPTN’s pre-announcement earlier this week, the revised FY19 EBITDA guidance is $183-$195 million (from $190-$205 million) and adj. EPS guidance is $1.20-$1.35 (from $1.20-$1.50). With SPTN now trading at a forward EV/EBITDA multiple of around 5.5x, near-term risks are better accounted for.”,” the firm’s analyst commented.
A number of other research analysts have also commented on SPTN. ValuEngine upgraded shares of SpartanNash from a strong sell rating to a sell rating in a research note on Thursday, August 1st. Barclays dropped their price objective on shares of SpartanNash from $13.00 to $8.00 and set an underweight rating on the stock in a research note on Tuesday, August 13th. BMO Capital Markets lowered shares of SpartanNash from a market perform rating to an underperform rating and dropped their price objective for the company from $13.00 to $8.00 in a research note on Friday, August 2nd. BidaskClub upgraded shares of SpartanNash from a strong sell rating to a sell rating in a research note on Wednesday, July 31st. Finally, Loop Capital assumed coverage on shares of SpartanNash in a research note on Tuesday, June 25th. They issued a buy rating and a $15.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. SpartanNash currently has an average rating of Hold and an average price target of $13.00.
SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. SpartanNash had a net margin of 0.05% and a return on equity of 7.07%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the business earned $0.56 EPS. SpartanNash’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that SpartanNash will post 1.27 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPTN. Advisory Services Network LLC acquired a new position in shares of SpartanNash during the second quarter worth about $35,000. Quantamental Technologies LLC increased 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 acquiring an additional 1,011 shares during the period. Meeder Asset Management Inc. increased 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 acquiring an additional 4,204 shares during the period. Glen Harbor Capital Management LLC increased 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 acquiring an additional 1,092 shares during the period. Finally, BNP Paribas Arbitrage SA increased 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 acquiring an additional 4,205 shares during the period. Institutional investors own 84.63% of the company’s stock.
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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