SpartanNash (NASDAQ:SPTN) was downgraded by Northcoast Research from a “buy” rating to a “neutral” rating in a research report issued on Friday, MarketBeat Ratings reports.
SPTN has been the subject of several other research reports. TheStreet cut shares of SpartanNash from a “b-” rating to a “c-” rating in a research report on Wednesday, November 8th. Jefferies Group set a $25.00 price objective on shares of SpartanNash and gave the stock a “hold” rating in a research note on Monday, September 11th. Pivotal Research reiterated a “sell” rating and set a $18.00 price objective on shares of SpartanNash in a research note on Wednesday, November 8th. BMO Capital Markets started coverage on shares of SpartanNash in a research note on Tuesday, September 12th. They set a “market perform” rating and a $25.00 price objective for the company. Finally, BidaskClub upgraded shares of SpartanNash from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. SpartanNash has an average rating of “Hold” and an average target price of $23.20.
Shares of SpartanNash (SPTN) traded down $0.76 on Friday, hitting $26.14. 141,400 shares of the stock traded hands, compared to its average volume of 173,967. SpartanNash has a 52-week low of $18.56 and a 52-week high of $40.38. The stock has a market cap of $926.88, a PE ratio of -13.00, a PEG ratio of 4.06 and a beta of 1.02. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.81 and a quick ratio of 0.74.
SpartanNash announced that its board has authorized a share buyback program on Thursday, November 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Large investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of SpartanNash by 5.6% in the second quarter. State Street Corp now owns 1,065,210 shares of the company’s stock worth $27,654,000 after acquiring an additional 56,359 shares during the period. Martin & Co. Inc. TN increased its stake in shares of SpartanNash by 106.3% in the second quarter. Martin & Co. Inc. TN now owns 70,265 shares of the company’s stock worth $1,824,000 after acquiring an additional 36,200 shares during the period. Vanguard Group Inc. increased its stake in shares of SpartanNash by 8.4% in the second quarter. Vanguard Group Inc. now owns 2,757,235 shares of the company’s stock worth $71,578,000 after acquiring an additional 212,923 shares during the period. Northern Trust Corp boosted its holdings in SpartanNash by 10.0% during the second quarter. Northern Trust Corp now owns 797,462 shares of the company’s stock worth $20,702,000 after buying an additional 72,318 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in SpartanNash by 6.9% during the second quarter. Legal & General Group Plc now owns 102,064 shares of the company’s stock worth $2,650,000 after buying an additional 6,599 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was first posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/05/spartannash-sptn-stock-rating-lowered-by-northcoast-research.html.
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.
Receive News & Ratings for SpartanNash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SpartanNash and related companies with MarketBeat.com's FREE daily email newsletter.