SpartanNash (NASDAQ:SPTN) Cut to Neutral at Northcoast Research

SpartanNash (NASDAQ:SPTN) was downgraded by equities research analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. They currently have a $10.00 target price on the stock. Northcoast Research’s target price would suggest a potential downside of 49.39% from the stock’s previous close.

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

SpartanNash Stock Down 2.8 %

Shares of SPTN stock opened at $19.76 on Wednesday. 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 stock has a 50 day moving average of $18.64 and a 200 day moving average of $19.98. The stock has a market cap of $667.10 million, a P/E ratio of -1,976.00 and a beta of 0.34.

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

Institutional Investors Weigh In On SpartanNash

A number of institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its position in 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 acquiring an additional 1,685 shares during the period. Signaturefd LLC raised its position in shares of SpartanNash by 64.9% during the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after purchasing an additional 709 shares during the last quarter. State of Wyoming purchased a new position in SpartanNash in the 4th quarter valued at about $43,000. Tower Research Capital LLC TRC boosted its holdings in SpartanNash by 167.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,966 shares of the company’s stock worth $109,000 after buying an additional 3,735 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in SpartanNash during the 4th quarter worth approximately $113,000. 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.