SpartanNash (NASDAQ:SPTN) Downgraded by Northcoast Research to “Neutral”

Northcoast Research lowered shares of SpartanNash (NASDAQ:SPTN) from a buy rating to a neutral rating in a report published on Wednesday morning, Marketbeat reports. The brokerage currently has $10.00 price objective on the stock.

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

SpartanNash Stock Performance

NASDAQ:SPTN opened at $19.27 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.57 and a debt-to-equity ratio of 1.00. SpartanNash has a fifty-two week low of $17.30 and a fifty-two week high of $23.00. The stock has a market cap of $650.56 million, a PE ratio of -1,927.00 and a beta of 0.34. The firm’s fifty day simple moving average is $18.63 and its 200-day simple moving average is $19.97.

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

Institutional Investors Weigh In On SpartanNash

A number of large investors have recently added to or reduced their stakes in SPTN. Nisa Investment Advisors LLC grew its stake in SpartanNash by 3,585.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,732 shares of the company’s stock valued at $32,000 after acquiring an additional 1,685 shares during the last quarter. Signaturefd LLC lifted its holdings in SpartanNash by 64.9% in the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock valued at $40,000 after purchasing an additional 709 shares in 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 lifted 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 valued at $109,000 after purchasing an additional 3,735 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in SpartanNash in the 4th quarter valued at about $113,000. 84.59% of the stock is owned by institutional investors and hedge funds.

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.