ValuEngine Upgrades SpartanNash (NASDAQ:SPTN) to “Buy”

SpartanNash (NASDAQ:SPTN) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

Several other analysts have also recently issued reports on the company. Pivotal Research upgraded SpartanNash from a “sell” rating to a “hold” rating and cut their target price for the stock from $10.00 to $9.00 in a research report on Thursday, August 15th. BidaskClub cut SpartanNash from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. BMO Capital Markets cut SpartanNash from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $13.00 to $8.00 in a research report on Friday, August 2nd. Barclays cut their target price on SpartanNash from $13.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday, August 13th. Finally, TheStreet cut SpartanNash from a “c” rating to a “d+” rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $13.00.

NASDAQ:SPTN opened at $12.25 on Thursday. The company has a current ratio of 1.72, a quick ratio of 0.74 and a debt-to-equity ratio of 1.39. SpartanNash has a 12-month low of $8.82 and a 12-month high of $22.49. The stock has a 50-day moving average price of $12.55 and a 200 day moving average price of $12.22. The stock has a market capitalization of $434.20 million, a P/E ratio of 6.55, a P/E/G ratio of 1.57 and a beta of 1.38.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.09). SpartanNash had a positive return on equity of 6.18% and a negative net margin of 0.16%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts predict that SpartanNash will post 1.09 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in SpartanNash during the second quarter valued at approximately $35,000. Glen Harbor Capital Management LLC boosted its stake in SpartanNash by 14.3% during the second quarter. Glen Harbor Capital Management LLC now owns 8,736 shares of the company’s stock valued at $102,000 after buying an additional 1,092 shares during the last quarter. Elkfork Partners LLC boosted its stake in SpartanNash by 14.3% during the second quarter. Elkfork Partners LLC now owns 10,608 shares of the company’s stock valued at $124,000 after buying an additional 1,326 shares during the last quarter. Bowling Portfolio Management LLC bought a new position in SpartanNash during the second quarter valued at approximately $135,000. Finally, Alberta Investment Management Corp bought a new position in SpartanNash during the second quarter valued at approximately $155,000. 83.60% 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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Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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