SpartanNash Company (SPTN) Price Target Cut to $26.00
SpartanNash Company (NASDAQ:SPTN) had its target price lowered by stock analysts at Deutsche Bank AG from $40.00 to $26.00 in a note issued to investors on Friday. The brokerage currently has a “hold” rating on the stock. Deutsche Bank AG’s target price would indicate a potential upside of 7.26% from the company’s current price.
Several other research analysts have also weighed in on the company. Pivotal Research set a $20.00 price target on SpartanNash and gave the company a “sell” rating in a research report on Tuesday. Jefferies Group LLC reissued a “hold” rating and set a $30.00 price target on shares of SpartanNash in a research report on Friday, August 11th. BidaskClub lowered SpartanNash from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised SpartanNash from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, ValuEngine raised SpartanNash from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $28.40.
SpartanNash (NASDAQ SPTN) traded down 1.94% during mid-day trading on Friday, reaching $24.24. The company’s stock had a trading volume of 287,887 shares. The firm has a 50-day moving average of $26.46 and a 200 day moving average of $32.16. The firm has a market capitalization of $909.85 million, a price-to-earnings ratio of 13.88 and a beta of 1.00. SpartanNash has a 1-year low of $23.70 and a 1-year high of $40.38.
SpartanNash (NASDAQ:SPTN) last announced its earnings results on Wednesday, August 16th. The company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. SpartanNash had a return on equity of 10.00% and a net margin of 0.83%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business posted $0.58 earnings per share. SpartanNash’s revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that SpartanNash will post $2.26 earnings per share for the current year.
In other SpartanNash news, Director M Shan Atkins sold 2,000 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $27.69, for a total value of $55,380.00. Following the transaction, the director now directly owns 32,425 shares of the company’s stock, valued at approximately $897,848.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of SpartanNash by 86.6% in the fourth quarter. Teachers Advisors LLC now owns 146,724 shares of the company’s stock valued at $5,801,000 after buying an additional 68,087 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of SpartanNash by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,260 shares of the company’s stock valued at $534,000 after buying an additional 200 shares during the last quarter. Huntington National Bank raised its position in shares of SpartanNash by 3.8% in the first quarter. Huntington National Bank now owns 3,254 shares of the company’s stock valued at $114,000 after buying an additional 120 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of SpartanNash by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 4,140 shares of the company’s stock valued at $144,000 after buying an additional 80 shares during the last quarter. Finally, James Investment Research Inc. purchased a new position in shares of SpartanNash during the first quarter valued at $1,686,000. 87.94% of the stock is currently owned by institutional investors.
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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