SpartanNash (NASDAQ:SPTN) Stock Rating Lowered by Northcoast Research

SpartanNash (NASDAQ:SPTN) was downgraded by Northcoast Research from a “buy” rating to a “neutral” rating in a report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $10.00 target price on the stock. Northcoast Research’s price target points to a potential downside of 49.39% from the stock’s current price.

Separately, StockNews.com cut shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th.

SpartanNash Stock Performance

SPTN opened at $19.76 on Wednesday. The firm has a market capitalization of $667.10 million, a PE ratio of -1,976.00 and a beta of 0.34. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.00. SpartanNash has a twelve month low of $17.30 and a twelve month high of $23.00. The firm’s 50-day moving average price is $18.64 and its 200 day moving average price is $19.98.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, sell-side analysts expect that SpartanNash will post 1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On SpartanNash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPTN. Invesco Ltd. grew its holdings in shares of SpartanNash by 25.1% during the 4th quarter. Invesco Ltd. now owns 1,243,507 shares of the company’s stock worth $22,781,000 after purchasing an additional 249,616 shares during the period. American Century Companies Inc. boosted its stake in SpartanNash by 14.2% during the fourth quarter. American Century Companies Inc. now owns 1,042,192 shares of the company’s stock worth $19,093,000 after buying an additional 129,907 shares during the period. JPMorgan Chase & Co. increased its position in shares of SpartanNash by 115.6% during the fourth quarter. JPMorgan Chase & Co. now owns 220,964 shares of the company’s stock valued at $4,048,000 after acquiring an additional 118,478 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of SpartanNash by 31.3% in the 4th quarter. ProShare Advisors LLC now owns 422,921 shares of the company’s stock valued at $7,748,000 after acquiring an additional 100,833 shares during the period. Finally, AMH Equity Ltd raised its stake in shares of SpartanNash by 316.7% in the 4th quarter. AMH Equity Ltd now owns 125,000 shares of the company’s stock valued at $2,290,000 after acquiring an additional 95,000 shares during the period. Institutional investors and hedge funds 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.