SpartanNash (NASDAQ:SPTN) had its price objective trimmed by Barclays from $13.00 to $8.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has an underweight rating on the stock.
A number of other brokerages also recently issued reports on SPTN. BMO Capital Markets downgraded shares of SpartanNash from a market perform rating to an underperform rating and cut their price target for the stock from $13.00 to $8.00 in a report on Friday, August 2nd. Loop Capital began coverage on shares of SpartanNash in a research note on Tuesday, June 25th. They set a buy rating and a $15.00 price target on the stock. Pivotal Research cut their price target on shares of SpartanNash from $12.00 to $10.00 and set a sell rating on the stock in a research note on Tuesday, June 11th. BidaskClub upgraded shares of SpartanNash from a strong sell rating to a sell rating in a research note on Wednesday, July 31st. Finally, Zacks Investment Research lowered shares of SpartanNash from a hold rating to a sell rating in a research note on Tuesday, May 7th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $14.17.
Shares of SPTN traded down $0.43 during trading hours on Tuesday, reaching $11.03. 250,850 shares of the company traded hands, compared to its average volume of 388,986. The stock has a market capitalization of $341.71 million, a P/E ratio of 5.90, a P/E/G ratio of 1.06 and a beta of 1.37. The company has a quick ratio of 0.82, a current ratio of 1.90 and a debt-to-equity ratio of 1.49. SpartanNash has a 12-month low of $8.82 and a 12-month high of $23.00. The business has a fifty day moving average price of $11.04 and a 200-day moving average price of $14.82.
Several large investors have recently modified their holdings of the company. Advisor Group Inc. boosted its holdings in shares of SpartanNash by 28.4% in the fourth quarter. Advisor Group Inc. now owns 3,213 shares of the company’s stock valued at $55,000 after acquiring an additional 711 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of SpartanNash by 1.6% in the second quarter. Arizona State Retirement System now owns 56,331 shares of the company’s stock valued at $657,000 after acquiring an additional 870 shares in the last quarter. Texas Permanent School Fund boosted its holdings in shares of SpartanNash by 3.8% in the first quarter. Texas Permanent School Fund now owns 24,411 shares of the company’s stock valued at $387,000 after acquiring an additional 892 shares in the last quarter. Ibex Investors LLC boosted its holdings in shares of SpartanNash by 2.0% in the first quarter. Ibex Investors LLC now owns 47,967 shares of the company’s stock valued at $761,000 after acquiring an additional 950 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of SpartanNash by 0.9% in the first quarter. Comerica Bank now owns 103,848 shares of the company’s stock valued at $1,747,000 after acquiring an additional 973 shares in the last quarter. 84.63% of the stock is currently owned by institutional investors and hedge funds.
SpartanNash Company Profile
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 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.
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.