Spartan Stores (SPTN) Releases Quarterly Earnings, Beats Estimates By $0.07 EPS
Spartan Stores (NASDAQ:SPTN) posted its quarterly earnings results on Wednesday. The company reported $0.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.07, American Banking & Market News reports. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.83 billion.
Spartan Stores (NASDAQ:SPTN) traded up 0.28% during mid-day trading on Wednesday, hitting $21.73. 125,451 shares of the company’s stock traded hands. Spartan Stores has a 1-year low of $19.44 and a 1-year high of $25.74. The stock’s 50-day moving average is $21.39 and its 200-day moving average is $22.06. The company has a market cap of $819.7 million and a P/E ratio of 133.77.
On a related note, analysts at Cantor Fitzgerald upgraded shares of Spartan Stores from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. They now have a $25.00 price target on the stock, up previously from $20.00.
Spartan Stores, Inc is a regional grocery distributor and grocery retailer, operating principally in Michigan and Indiana.
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