SpartanNash (NASDAQ:SPTN) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They currently have a $23.00 target price on the stock. BMO Capital Markets’ price target indicates a potential upside of 38.64% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. BidaskClub raised shares of SpartanNash from a “sell” rating to a “hold” rating in a report on Tuesday. Deutsche Bank dropped their price objective on shares of SpartanNash from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, August 17th. Zacks Investment Research raised shares of SpartanNash from a “sell” rating to a “hold” rating in a report on Thursday, August 16th. Finally, ValuEngine lowered shares of SpartanNash from a “sell” rating to a “strong sell” rating in a report on Monday, July 30th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $21.80.

Shares of SPTN stock opened at $16.59 on Thursday. The firm has a market cap of $694.22 million, a PE ratio of 9.86, a price-to-earnings-growth ratio of 1.38 and a beta of 1.17. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 2.06. SpartanNash has a 12-month low of $16.10 and a 12-month high of $27.72.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.91 billion. SpartanNash had a return on equity of 9.87% and a net margin of 1.02%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. On average, analysts predict that SpartanNash will post 1.97 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. purchased a new stake in shares of SpartanNash during the third quarter valued at $102,000. Sun Life Financial INC purchased a new stake in SpartanNash in the second quarter valued at $134,000. Piedmont Investment Advisors LLC purchased a new stake in SpartanNash in the second quarter valued at $213,000. Xact Kapitalforvaltning AB purchased a new stake in SpartanNash in the second quarter valued at $227,000. Finally, Creative Planning purchased a new stake in SpartanNash in the second quarter valued at $256,000. 84.94% of the stock is currently owned by hedge funds and other 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 retail locations, food service distributors, and corporate-owned retail stores.

See Also: Return on Investment (ROI)

Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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