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

StockNews.com upgraded shares of SpartanNash (NASDAQ:SPTN) from a hold rating to a buy rating in a research report released on Wednesday.

Separately, BMO Capital Markets cut their target price on 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 Price Performance

Shares of NASDAQ:SPTN opened at $22.09 on Wednesday. The business has a fifty day moving average price of $20.21 and a 200-day moving average price of $19.93. 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 company has a market capitalization of $745.32 million, a PE ratio of 14.25 and a beta of 0.39. SpartanNash has a 1-year low of $17.74 and a 1-year high of $24.51.

SpartanNash (NASDAQ:SPTN) last released its quarterly earnings data on Thursday, August 15th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $2.23 billion during 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%. SpartanNash’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. As a group, equities analysts expect that SpartanNash will post 1.98 EPS for the current fiscal year.

Institutional Trading of SpartanNash

A number of institutional investors have recently made changes to their positions in SPTN. Dana Investment Advisors Inc. raised its holdings in shares of SpartanNash by 14.5% during the second quarter. Dana Investment Advisors Inc. now owns 328,357 shares of the company’s stock valued at $6,160,000 after purchasing an additional 41,619 shares during the last quarter. Truist Financial Corp grew its position in SpartanNash by 44.8% in the 2nd quarter. Truist Financial Corp now owns 26,694 shares of the company’s stock worth $501,000 after purchasing an additional 8,253 shares during the period. Point72 Asset Management L.P. raised its stake in SpartanNash by 90.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 12,400 shares of the company’s stock valued at $233,000 after buying an additional 5,900 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of SpartanNash during the 2nd quarter valued at $317,000. Finally, Mackenzie Financial Corp boosted its stake in shares of SpartanNash by 14.1% in the 2nd quarter. Mackenzie Financial Corp now owns 14,274 shares of the company’s stock worth $268,000 after buying an additional 1,768 shares during the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

About SpartanNash

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.