StockNews.com Upgrades SpartanNash (NASDAQ:SPTN) to Buy

SpartanNash (NASDAQ:SPTN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Separately, Northcoast Research cut shares of SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Wednesday, February 19th.

SpartanNash Stock Down 0.6 %

SPTN stock opened at $20.58 on Thursday. The company’s 50 day moving average is $19.58 and its two-hundred day moving average is $19.75. SpartanNash has a twelve month low of $17.30 and a twelve month high of $23.00. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.00. The stock has a market cap of $694.88 million, a P/E ratio of -2,058.00 and a beta of 0.34.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Research analysts expect that SpartanNash will post 1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SpartanNash

Several institutional investors have recently made changes to their positions in SPTN. Vanguard Group Inc. boosted its holdings in SpartanNash by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 3,250,372 shares of the company’s stock worth $59,547,000 after buying an additional 57,458 shares in the last quarter. Invesco Ltd. increased its position in SpartanNash by 25.1% during the fourth quarter. Invesco Ltd. now owns 1,243,507 shares of the company’s stock worth $22,781,000 after buying an additional 249,616 shares in the last quarter. American Century Companies Inc. lifted its position in shares of SpartanNash by 14.2% in the fourth quarter. American Century Companies Inc. now owns 1,042,192 shares of the company’s stock valued at $19,093,000 after acquiring an additional 129,907 shares in the last quarter. LSV Asset Management raised its stake in SpartanNash by 2.1% in the 4th quarter. LSV Asset Management now owns 977,398 shares of the company’s stock valued at $17,906,000 after purchasing an additional 20,546 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of SpartanNash by 1.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 496,343 shares of the company’s stock worth $9,093,000 after purchasing an additional 8,652 shares during the last quarter. 84.59% of the stock is currently owned by hedge funds and other institutional investors.

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.