SpartanNash (NASDAQ:SPTN) Downgraded to “Sell” at BidaskClub

SpartanNash (NASDAQ:SPTN) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday, BidAskClub reports.

Other equities analysts have also issued research reports about the company. TheStreet raised SpartanNash from a “c” rating to a “b” rating in a report on Wednesday, August 12th. BTIG Research began coverage on SpartanNash in a research report on Thursday, July 16th. They set a “neutral” rating on the stock. Barclays reiterated a “hold” rating and issued a $20.00 price objective on shares of SpartanNash in a research note on Friday, May 29th. ValuEngine upgraded shares of SpartanNash from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Deutsche Bank upped their price target on shares of SpartanNash from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.75.

SPTN stock opened at $16.73 on Thursday. The stock has a market cap of $599.49 million, a price-to-earnings ratio of 12.21 and a beta of 0.94. SpartanNash has a fifty-two week low of $9.00 and a fifty-two week high of $23.94. The company has a quick ratio of 0.75, a current ratio of 1.56 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $20.18 and a 200 day moving average price of $17.91.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.11. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.31 billion. SpartanNash had a net margin of 0.54% and a return on equity of 10.02%. As a group, sell-side analysts anticipate that SpartanNash will post 2.52 EPS for the current year.

In other news, Director M Shan Atkins sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $22.00, for a total transaction of $66,000.00. Following the completion of the sale, the director now owns 42,112 shares in the company, valued at $926,464. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 15,173 shares of company stock valued at $337,410 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. acquired a new position in shares of SpartanNash during the 1st quarter worth $45,000. Invesco Ltd. boosted its holdings in SpartanNash by 16.5% during the first quarter. Invesco Ltd. now owns 885,155 shares of the company’s stock worth $12,675,000 after buying an additional 125,312 shares in the last quarter. Alpha Windward LLC acquired a new position in SpartanNash during the second quarter worth about $397,000. Bank of New York Mellon Corp increased its holdings in SpartanNash by 9.3% in the first quarter. Bank of New York Mellon Corp now owns 696,768 shares of the company’s stock valued at $9,977,000 after buying an additional 59,363 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of SpartanNash by 3.2% during the 2nd quarter. LSV Asset Management now owns 1,692,251 shares of the company’s stock valued at $35,960,000 after acquiring an additional 52,554 shares during the period. Institutional investors and hedge funds own 84.92% of the company’s stock.

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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