Northcoast Research Lowers SpartanNash (SPTN) to Neutral

SpartanNash (NASDAQ:SPTN) was downgraded by analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a research note issued on Friday.

SPTN has been the subject of several other reports. Pivotal Research restated a “sell” rating and set a $18.00 target price on shares of SpartanNash in a report on Wednesday, November 8th. Barclays dropped their target price on shares of SpartanNash from $28.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, November 10th. Jefferies Group reaffirmed a “hold” rating and set a $25.00 price target on shares of SpartanNash in a research note on Monday, October 16th. TheStreet cut shares of SpartanNash from a “b-” rating to a “c-” rating in a research note on Wednesday, November 8th. Finally, BMO Capital Markets initiated coverage on shares of SpartanNash in a research note on Tuesday, September 12th. They set a “market perform” rating and a $25.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $23.20.

SpartanNash (NASDAQ SPTN) opened at $26.14 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.92. SpartanNash has a twelve month low of $18.56 and a twelve month high of $40.38. The firm has a market cap of $994.54, a PE ratio of -12.94, a price-to-earnings-growth ratio of 4.06 and a beta of 1.02.

SpartanNash (NASDAQ:SPTN) last posted its earnings results on Wednesday, November 8th. The company reported $0.54 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. SpartanNash had a negative net margin of 0.93% and a positive return on equity of 10.35%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. equities research analysts anticipate that SpartanNash will post 2.11 earnings per share for the current fiscal year.

SpartanNash announced that its board has initiated a stock buyback program on Thursday, November 16th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its position in shares of SpartanNash by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,689 shares of the company’s stock worth $122,000 after acquiring an additional 704 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of SpartanNash in the second quarter worth approximately $127,000. Piedmont Investment Advisors LLC acquired a new stake in shares of SpartanNash in the second quarter worth approximately $212,000. Suntrust Banks Inc. boosted its position in shares of SpartanNash by 1.8% in the second quarter. Suntrust Banks Inc. now owns 10,259 shares of the company’s stock worth $266,000 after acquiring an additional 183 shares during the last quarter. Finally, Petrus Trust Company LTA acquired a new stake in shares of SpartanNash in the second quarter worth approximately $267,000. 86.05% of the stock is currently owned by institutional investors.

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About SpartanNash

SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.

Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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