SpartanNash (NASDAQ:SPTN) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research has upgraded SpartanNash from a "strong sell" to a "hold" rating, indicating a shift in sentiment among analysts.
• The company's recent earnings report revealed a 1.8% revenue increase year-over-year, with earnings per share of $0.54, surpassing analyst expectations.
• SpartanNash has seen significant institutional investment activity, with 84.59% of its stock now owned by institutional investors and hedge funds.

SpartanNash (NASDAQ:SPTN - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday, August 18th,Zacks.com reports.

Several other research firms have also recently commented on SPTN. BMO Capital Markets restated a "market perform" rating and set a $26.90 price target (up from $20.00) on shares of SpartanNash in a report on Tuesday, June 24th. Wall Street Zen cut shares of SpartanNash from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $18.45.

SpartanNash Stock Up 0.0%

SpartanNash stock traded up $0.0050 during mid-day trading on Monday, hitting $26.6750. The company's stock had a trading volume of 303,366 shares, compared to its average volume of 523,743. The firm's 50 day moving average is $25.68 and its 200 day moving average is $21.72. The company has a market cap of $903.22 million, a PE ratio of -55.57 and a beta of 0.46. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.57 and a quick ratio of 0.80. SpartanNash has a 52-week low of $17.30 and a 52-week high of $26.71.

SpartanNash (NASDAQ:SPTN - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.29 billion. SpartanNash had a positive return on equity of 8.19% and a negative net margin of 0.16%.The business's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. On average, analysts anticipate that SpartanNash will post 1.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SPTN. Raymond James Financial Inc. bought a new position in SpartanNash in the 4th quarter worth approximately $319,000. GAMMA Investing LLC increased its position in SpartanNash by 8.5% in the 1st quarter. GAMMA Investing LLC now owns 8,097 shares of the company's stock worth $164,000 after buying an additional 636 shares during the period. SG Americas Securities LLC bought a new position in SpartanNash in the 1st quarter worth approximately $426,000. AXA S.A. increased its position in SpartanNash by 465.1% in the 4th quarter. AXA S.A. now owns 58,354 shares of the company's stock worth $1,069,000 after buying an additional 48,028 shares during the period. Finally, New York State Common Retirement Fund increased its position in SpartanNash by 43.0% in the 1st quarter. New York State Common Retirement Fund now owns 54,354 shares of the company's stock worth $1,101,000 after buying an additional 16,332 shares during the period. 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.