Shares of SpartanNash Co (NASDAQ:SPTN) have been assigned an average rating of “Hold” from the ten research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $23.20.
SPTN has been the subject of a number of recent research reports. TheStreet downgraded SpartanNash from a “b-” rating to a “c-” rating in a research note on Wednesday, November 8th. BidaskClub lowered SpartanNash from a “hold” rating to a “sell” rating in a report on Thursday, January 18th. Jefferies Group reissued a “hold” rating and set a $25.00 price objective on shares of SpartanNash in a report on Monday, October 16th. Pivotal Research reissued a “sell” rating and set a $18.00 price objective on shares of SpartanNash in a report on Wednesday, November 8th. Finally, ValuEngine lowered SpartanNash from a “buy” rating to a “hold” rating in a report on Friday.
SpartanNash (SPTN) traded down $1.01 on Friday, hitting $23.17. The stock had a trading volume of 243,075 shares, compared to its average volume of 206,482. SpartanNash has a 52 week low of $18.56 and a 52 week high of $39.67. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.81 and a quick ratio of 0.74. The stock has a market cap of $820.85, a P/E ratio of -11.53, a PEG ratio of 1.85 and a beta of 0.88.
SpartanNash declared that its Board of Directors has approved a share buyback plan on Thursday, November 16th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC acquired a new position in shares of SpartanNash during the 2nd quarter valued at about $212,000. Suntrust Banks Inc. increased its holdings in shares of SpartanNash by 1.8% during the 2nd quarter. Suntrust Banks Inc. now owns 10,259 shares of the company’s stock valued at $266,000 after acquiring an additional 183 shares during the last quarter. Assetmark Inc. increased its holdings in shares of SpartanNash by 30.4% during the 3rd quarter. Assetmark Inc. now owns 13,276 shares of the company’s stock valued at $350,000 after acquiring an additional 3,094 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of SpartanNash during the 3rd quarter valued at about $368,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in SpartanNash by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,020 shares of the company’s stock valued at $422,000 after buying an additional 3,300 shares during the last quarter. 86.11% of the stock is currently owned by institutional investors and hedge funds.
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SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.
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