Spartan Stores (SPTN) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Spartan Stores (NASDAQ:SPTN) announced its earnings results on Wednesday. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.38 by $0.02, AmericanBankingNews.com reports. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 198.9% on a year-over-year basis.
In other Spartan Stores news, VP Alex Deyonker sold 6,960 shares of Spartan Stores stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $21.58, for a total value of $150,196.80. Following the transaction, the vice president now directly owns 63,203 shares in the company, valued at approximately $1,363,921. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Spartan Stores (NASDAQ:SPTN) traded up 0.74% on Wednesday, hitting $21.69. The stock had a trading volume of 155,203 shares. Spartan Stores has a 1-year low of $16.71 and a 1-year high of $25.74. The stock has a 50-day moving average of $22. and a 200-day moving average of $22.79. The company has a market cap of $810.6 million and a P/E ratio of 552.05.
On the ratings front, analysts at Zacks upgraded shares of Spartan Stores from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 11th. They now have a $25.70 price target on the stock.
Spartan Stores, Inc is a regional grocery distributor and grocery retailer, operating principally in Michigan and Indiana.
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