Wall Street Zen Downgrades SpartanNash (NASDAQ:SPTN) to Hold

SpartanNash (NASDAQ:SPTN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

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

SpartanNash Trading Down 0.9%

SpartanNash stock traded down $0.17 during mid-day trading on Friday, hitting $18.89. 142,156 shares of the company's stock were exchanged, compared to its average volume of 270,562. The company's 50 day simple moving average is $19.63 and its 200-day simple moving average is $19.24. The company has a quick ratio of 0.78, a current ratio of 1.57 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $639.50 million, a P/E ratio of -1,889.00 and a beta of 0.42. SpartanNash has a fifty-two week low of $17.30 and a fifty-two week high of $23.00.

SpartanNash (NASDAQ:SPTN - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.87 billion. SpartanNash's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. On average, equities analysts anticipate that SpartanNash will post 1.79 earnings per share for the current year.

Institutional Trading of SpartanNash

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of SpartanNash by 3,585.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,732 shares of the company's stock worth $32,000 after buying an additional 1,685 shares during the period. State of Wyoming acquired a new position in SpartanNash during the 4th quarter worth approximately $43,000. Tower Research Capital LLC TRC grew its stake in shares of SpartanNash by 167.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company's stock worth $109,000 after acquiring an additional 3,735 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of SpartanNash during the 4th quarter worth approximately $113,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of SpartanNash in the fourth quarter valued at approximately $132,000. Institutional investors and hedge funds own 84.59% of the company's stock.

About SpartanNash

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.