SpartanNash (NASDAQ:SPTN) Rating Lowered to Hold at StockNews.com

SpartanNash (NASDAQ:SPTNGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other brokerages have also issued reports on SPTN. Zacks Investment Research raised SpartanNash from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Wednesday, March 23rd. CL King initiated coverage on SpartanNash in a research note on Monday, March 21st. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $26.83.

SPTN stock opened at $35.92 on Thursday. The company has a current ratio of 1.46, a quick ratio of 0.66 and a debt-to-equity ratio of 0.51. SpartanNash has a 12 month low of $18.08 and a 12 month high of $36.19. The stock has a market cap of $1.29 billion, a PE ratio of 17.52 and a beta of 0.71. The company has a 50-day moving average price of $31.66 and a 200 day moving average price of $27.01.

SpartanNash (NASDAQ:SPTNGet Rating) last released its earnings results on Thursday, February 24th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). SpartanNash had a net margin of 0.83% and a return on equity of 7.99%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the company posted $0.43 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. Sell-side analysts forecast that SpartanNash will post 2.12 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of SPTN. Eaton Vance Management raised its position in SpartanNash by 4.3% during the 3rd quarter. Eaton Vance Management now owns 10,360 shares of the company’s stock valued at $31,000 after purchasing an additional 423 shares in the last quarter. Nisa Investment Advisors LLC raised its position in SpartanNash by 8,400.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,700 shares of the company’s stock valued at $42,000 after purchasing an additional 1,680 shares in the last quarter. MBM Wealth Consultants LLC raised its position in SpartanNash by 33.7% during the 4th quarter. MBM Wealth Consultants LLC now owns 2,045 shares of the company’s stock valued at $53,000 after purchasing an additional 515 shares in the last quarter. Gladius Capital Management LP bought a new position in shares of SpartanNash in the 4th quarter worth $79,000. Finally, Captrust Financial Advisors raised its position in shares of SpartanNash by 11.8% in the 3rd quarter. Captrust Financial Advisors now owns 5,785 shares of the company’s stock worth $127,000 after acquiring an additional 611 shares in the last quarter. 79.31% of the stock is owned by institutional investors and hedge funds.

About SpartanNash (Get Rating)

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 65,000 stock-keeping units, such as dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

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