SpartanNash (SPTN) Downgraded to Sell at BidaskClub

SpartanNash (NASDAQ:SPTN) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets set a $23.00 target price on shares of SpartanNash and gave the company a “buy” rating in a research report on Friday, August 17th. Zacks Investment Research upgraded shares of SpartanNash from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Saturday, June 2nd. ValuEngine cut shares of SpartanNash from a “sell” rating to a “strong sell” rating in a research report on Friday, June 8th. Pivotal Research set a $15.00 price objective on shares of SpartanNash and gave the stock a “sell” rating in a research report on Thursday, May 31st. Finally, Barclays upped their price objective on shares of SpartanNash from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 31st. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $22.33.

Shares of NASDAQ:SPTN opened at $20.06 on Friday. The company has a market capitalization of $727.28 million, a PE ratio of 9.55, a PEG ratio of 1.42 and a beta of 1.16. The company has a quick ratio of 0.88, a current ratio of 2.06 and a debt-to-equity ratio of 0.97. SpartanNash has a 12 month low of $16.32 and a 12 month high of $27.72.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, August 15th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.07). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. SpartanNash had a negative net margin of 0.72% and a positive return on equity of 10.23%. SpartanNash’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. research analysts expect that SpartanNash will post 2.03 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Sun Life Financial INC acquired a new position in SpartanNash during the 2nd quarter worth approximately $134,000. Piedmont Investment Advisors LLC acquired a new position in SpartanNash during the 2nd quarter worth approximately $213,000. Xact Kapitalforvaltning AB acquired a new position in SpartanNash during the 2nd quarter worth approximately $227,000. Creative Planning acquired a new position in SpartanNash during the 2nd quarter worth approximately $256,000. Finally, Foster & Motley Inc. acquired a new position in SpartanNash during the 2nd quarter worth approximately $264,000. Institutional investors and hedge funds own 85.05% of the company’s stock.

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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