SpartanNash Company (SPTN) Lowered to “Sell” at Zacks Investment Research
SpartanNash Company (NASDAQ:SPTN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
According to Zacks, “SpartanNash Co. is a food distributor serving military commissaries and exchanges in the United States. The company’s core businesses include distributing food to military commissaries and exchanges and independent and corporate-owned retail stores located in 44 states and the District of Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain and Egypt. It operates supermarkets, primarily under the banners of Family Fare Supermarkets, No Frills, Bag ‘n Save and Econofoods. SpartanNash Co., formerly known as Spartan Stores, Inc., is headquartered in United States. “
Several other analysts also recently weighed in on the stock. Pivotal Research downgraded shares of SpartanNash from a “hold” rating to a “sell” rating and decreased their price target for the company from $35.00 to $20.00 in a research note on Monday, June 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $30.00 price target (down previously from $35.00) on shares of SpartanNash in a research note on Friday, June 23rd. ValuEngine raised shares of SpartanNash from a “hold” rating to a “buy” rating in a research note on Monday, July 17th. BidaskClub downgraded shares of SpartanNash from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $28.00 price target (down previously from $36.00) on shares of SpartanNash in a research note on Friday, July 14th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. SpartanNash presently has a consensus rating of “Hold” and an average target price of $28.40.
SpartanNash (NASDAQ SPTN) opened at 24.24 on Friday. The company has a market cap of $916.47 million, a price-to-earnings ratio of 14.73 and a beta of 1.00. SpartanNash has a 52-week low of $23.70 and a 52-week high of $40.38. The firm’s 50-day moving average price is $26.46 and its 200-day moving average price is $32.16.
SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Wednesday, August 16th. The company reported $0.60 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. SpartanNash had a net margin of 0.83% and a return on equity of 10.00%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that SpartanNash will post $2.26 EPS for the current year.
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In related news, Director M Shan Atkins sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $27.69, for a total value of $55,380.00. Following the completion of the transaction, the director now owns 32,425 shares of the company’s stock, valued at $897,848.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.00% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its position in shares of SpartanNash by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 18,383 shares of the company’s stock worth $477,000 after buying an additional 245 shares during the period. Piedmont Investment Advisors LLC purchased a new position in SpartanNash during the second quarter valued at about $212,000. Sterling Capital Management LLC purchased a new position in SpartanNash during the second quarter valued at about $930,000. Martin & Co. Inc. TN raised its position in SpartanNash by 106.3% in the second quarter. Martin & Co. Inc. TN now owns 70,265 shares of the company’s stock valued at $1,824,000 after buying an additional 36,200 shares in the last quarter. Finally, Susquehanna International Group LLP raised its position in SpartanNash by 37.7% in the second quarter. Susquehanna International Group LLP now owns 23,749 shares of the company’s stock valued at $617,000 after buying an additional 6,500 shares in the last quarter. 87.94% of the stock is owned by institutional investors.
SpartanNash Company Profile
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.
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