BidaskClub upgraded shares of SpartanNash (NASDAQ:SPTN) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
A number of other research firms have also recently issued reports on SPTN. ValuEngine cut shares of SpartanNash from a sell rating to a strong sell rating in a research note on Monday, July 30th. Zacks Investment Research upgraded shares of SpartanNash from a sell rating to a hold rating in a research note on Thursday, August 16th. Deutsche Bank reduced their target price on shares of SpartanNash from $21.00 to $20.00 and set a hold rating for the company in a research note on Friday, August 17th. Finally, BMO Capital Markets set a $23.00 target price on shares of SpartanNash and gave the company a buy rating in a research note on Friday, August 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $21.80.
NASDAQ SPTN opened at $19.05 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 2.06 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $673.38 million, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.17. SpartanNash has a 12-month low of $16.32 and a 12-month high of $27.72.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of SpartanNash by 8.6% in the second quarter. BlackRock Inc. now owns 5,178,585 shares of the company’s stock valued at $132,157,000 after purchasing an additional 408,988 shares during the period. United Services Automobile Association bought a new position in shares of SpartanNash in the second quarter valued at approximately $285,000. Aperio Group LLC raised its position in shares of SpartanNash by 29.4% in the second quarter. Aperio Group LLC now owns 23,711 shares of the company’s stock valued at $605,000 after purchasing an additional 5,387 shares during the period. Creative Planning bought a new position in shares of SpartanNash in the second quarter valued at approximately $256,000. Finally, Millennium Management LLC raised its position in shares of SpartanNash by 111.5% in the first quarter. Millennium Management LLC now owns 24,151 shares of the company’s stock valued at $416,000 after purchasing an additional 12,732 shares during the period. 84.94% of the stock is currently owned by institutional investors.
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.
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