SpartanNash (NASDAQ:SPTN) Price Target Lowered to $10.00 at Pivotal Research

SpartanNash (NASDAQ:SPTN) had its target price reduced by analysts at Pivotal Research from $12.00 to $10.00 in a report released on Tuesday, Briefing.com Automated Import reports. The firm currently has a “sell” rating on the stock. Pivotal Research’s price objective would indicate a potential downside of 13.42% from the stock’s previous close.

A number of other research firms also recently weighed in on SPTN. BidaskClub upgraded SpartanNash from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 15th. Barclays downgraded SpartanNash from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, March 12th. ValuEngine downgraded SpartanNash from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Zacks Investment Research downgraded SpartanNash from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Finally, BMO Capital Markets set a $13.00 price target on SpartanNash and gave the company a “hold” rating in a research report on Thursday, May 23rd. Five analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.20.

Shares of SPTN stock opened at $11.55 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.49. SpartanNash has a 52-week low of $11.12 and a 52-week high of $26.50. The firm has a market capitalization of $429.55 million, a P/E ratio of 6.18, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38.

SpartanNash (NASDAQ:SPTN) last issued its quarterly earnings data on Monday, May 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. SpartanNash had a return on equity of 7.77% and a net margin of 0.35%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the business posted $0.55 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, analysts predict that SpartanNash will post 1.35 EPS for the current year.

In other news, Director M Shan Atkins sold 4,676 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $15.88, for a total transaction of $74,254.88. Following the transaction, the director now directly owns 49,949 shares of the company’s stock, valued at $793,190.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in SPTN. Thrivent Financial for Lutherans grew its stake in shares of SpartanNash by 0.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 113,666 shares of the company’s stock worth $1,952,000 after purchasing an additional 564 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of SpartanNash by 77.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the company’s stock worth $27,000 after purchasing an additional 692 shares during the last quarter. Advisor Group Inc. grew its stake in shares of SpartanNash by 28.4% in the fourth quarter. Advisor Group Inc. now owns 3,213 shares of the company’s stock worth $55,000 after purchasing an additional 711 shares during the last quarter. United Services Automobile Association grew its stake in shares of SpartanNash by 7.0% in the fourth quarter. United Services Automobile Association now owns 13,345 shares of the company’s stock worth $229,000 after purchasing an additional 876 shares during the last quarter. Finally, Texas Permanent School Fund grew its stake in shares of SpartanNash by 3.8% in the first quarter. Texas Permanent School Fund now owns 24,411 shares of the company’s stock worth $387,000 after purchasing an additional 892 shares during the last quarter. 83.94% of the stock is currently owned by hedge funds and other institutional investors.

About SpartanNash

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 retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

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Analyst Recommendations for SpartanNash (NASDAQ:SPTN)

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