SpartanNash (NASDAQ:SPTN) Raised to Buy at StockNews.com

SpartanNash (NASDAQ:SPTN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Separately, BMO Capital Markets cut their price target on SpartanNash from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Friday, May 31st.

SpartanNash Stock Performance

Shares of SPTN stock opened at $21.54 on Tuesday. The firm has a market capitalization of $730.03 million, a price-to-earnings ratio of 13.90 and a beta of 0.41. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.62 and a quick ratio of 0.80. The business has a fifty day moving average of $19.71 and a 200 day moving average of $19.89. SpartanNash has a 1 year low of $17.74 and a 1 year high of $24.51.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.27 billion. SpartanNash had a return on equity of 8.87% and a net margin of 0.48%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, research analysts expect that SpartanNash will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On SpartanNash

A number of institutional investors have recently modified their holdings of SPTN. Louisiana State Employees Retirement System acquired a new stake in shares of SpartanNash during the 4th quarter valued at about $397,000. New York State Common Retirement Fund boosted its holdings in SpartanNash by 71.9% in the 4th quarter. New York State Common Retirement Fund now owns 42,931 shares of the company’s stock worth $985,000 after buying an additional 17,954 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in SpartanNash by 18.7% in the 4th quarter. Russell Investments Group Ltd. now owns 39,135 shares of the company’s stock worth $899,000 after buying an additional 6,170 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in SpartanNash by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 33,259 shares of the company’s stock worth $763,000 after buying an additional 473 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in SpartanNash in the 4th quarter worth about $238,000. 84.59% of the stock is currently owned by institutional investors and hedge funds.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including 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 pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.