SpartanNash (NASDAQ:SPTN) Upgraded at StockNews.com

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

SpartanNash Stock Performance

SPTN traded up $0.35 during midday trading on Tuesday, reaching $17.84. The company had a trading volume of 240,602 shares, compared to its average volume of 297,000. The business has a 50-day moving average of $18.74 and a two-hundred day moving average of $20.11. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.80. SpartanNash has a 1 year low of $17.30 and a 1 year high of $23.00. The company has a market cap of $602.19 million, a P/E ratio of 13.41 and a beta of 0.35.

SpartanNash (NASDAQ:SPTN) last released its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the firm posted $0.54 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts predict that SpartanNash will post 1.88 earnings per share for the current fiscal year.

Institutional Trading of SpartanNash

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPTN. Burney Co. boosted its stake in SpartanNash by 4.2% in the 4th quarter. Burney Co. now owns 65,140 shares of the company’s stock worth $1,193,000 after purchasing an additional 2,599 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of SpartanNash by 20.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 20,005 shares of the company’s stock worth $366,000 after acquiring an additional 3,356 shares during the last quarter. GAMMA Investing LLC grew its stake in SpartanNash by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 7,461 shares of the company’s stock valued at $137,000 after acquiring an additional 3,541 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in SpartanNash by 71.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 102,486 shares of the company’s stock valued at $2,297,000 after acquiring an additional 42,719 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new stake in SpartanNash in the 3rd quarter worth $211,000. Institutional investors 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.