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 report issued on Wednesday.

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

SpartanNash Stock Up 1.3 %

Shares of SpartanNash stock traded up $0.29 during trading on Wednesday, reaching $22.55. The company had a trading volume of 204,140 shares, compared to its average volume of 250,825. The company has a market cap of $760.84 million, a price-to-earnings ratio of 14.55 and a beta of 0.39. The firm’s fifty day moving average is $19.99 and its 200-day moving average is $19.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.62. SpartanNash has a fifty-two week low of $17.74 and a fifty-two week high of $24.51.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Thursday, August 15th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.27 billion. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 EPS. On average, analysts anticipate that SpartanNash will post 1.98 EPS for the current year.

Institutional Investors Weigh In On SpartanNash

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC raised its stake in SpartanNash by 58.3% during the fourth quarter. Parallel Advisors LLC now owns 1,255 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares during the period. Larson Financial Group LLC acquired a new stake in SpartanNash during the first quarter worth about $30,000. nVerses Capital LLC acquired a new stake in SpartanNash during the second quarter worth about $30,000. Canada Pension Plan Investment Board acquired a new stake in SpartanNash during the second quarter worth about $34,000. Finally, Blue Trust Inc. raised its stake in SpartanNash by 5,317.6% during the second quarter. Blue Trust Inc. now owns 1,842 shares of the company’s stock worth $37,000 after acquiring an additional 1,808 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.

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.