Zacks Investment Research Lowers SpartanNash (NASDAQ:SPTN) to Sell

SpartanNash (NASDAQ:SPTN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

SPTN has been the subject of a number of other research reports. Loop Capital began coverage on SpartanNash in a report on Tuesday, June 25th. They set a “buy” rating and a $15.00 target price for the company. Barclays decreased their target price on SpartanNash from $13.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. TheStreet downgraded SpartanNash from a “c” rating to a “d+” rating in a report on Wednesday, August 14th. BidaskClub raised SpartanNash from a “strong sell” rating to a “sell” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets downgraded SpartanNash from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $13.00 to $8.00 in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. SpartanNash presently has an average rating of “Hold” and an average target price of $13.00.

Shares of SpartanNash stock traded up $0.06 on Tuesday, reaching $13.77. 16,971 shares of the stock were exchanged, compared to its average volume of 380,825. The company has a quick ratio of 0.75, a current ratio of 1.76 and a debt-to-equity ratio of 1.40. SpartanNash has a twelve month low of $8.82 and a twelve month high of $23.00. The firm has a market capitalization of $488.33 million, a price-to-earnings ratio of 7.30, a PEG ratio of 1.48 and a beta of 1.39. The business has a 50 day moving average price of $11.91 and a two-hundred day moving average price of $12.58.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Wednesday, August 14th. The company reported $0.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.34. SpartanNash had a return on equity of 7.07% and a net margin of 0.05%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. Research analysts forecast that SpartanNash will post 1.29 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in SpartanNash by 1.7% in the second quarter. BlackRock Inc. now owns 5,476,811 shares of the company’s stock valued at $63,916,000 after acquiring an additional 90,543 shares during the period. Vanguard Group Inc. raised its stake in shares of SpartanNash by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,681,176 shares of the company’s stock worth $31,288,000 after buying an additional 223,193 shares during the period. Invesco Ltd. raised its stake in shares of SpartanNash by 53.7% during the 2nd quarter. Invesco Ltd. now owns 817,636 shares of the company’s stock worth $9,542,000 after buying an additional 285,630 shares during the period. Northern Trust Corp raised its stake in shares of SpartanNash by 0.9% during the 2nd quarter. Northern Trust Corp now owns 530,166 shares of the company’s stock worth $6,187,000 after buying an additional 4,940 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of SpartanNash by 35.3% during the 2nd quarter. AQR Capital Management LLC now owns 505,618 shares of the company’s stock worth $5,901,000 after buying an additional 131,984 shares during the period. 83.66% of the stock is owned by institutional investors.

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.

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