SpartanNash (NASDAQ:SPTN) Releases Earnings Results
SpartanNash (NASDAQ:SPTN) posted its earnings results on Wednesday. The company reported $0.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.34, Briefing.com reports. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. SpartanNash had a return on equity of 7.77% and a net margin of 0.35%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. SpartanNash updated its FY 2019 guidance to $1.20-1.35 EPS and its FY19 guidance to $1.20-1.35 EPS.
Shares of SPTN stock traded up $2.62 on Thursday, reaching $11.56. The stock had a trading volume of 29,925 shares, compared to its average volume of 388,599. The firm has a market cap of $343.17 million, a PE ratio of 6.12, a P/E/G ratio of 1.01 and a beta of 1.37. SpartanNash has a 1 year low of $8.82 and a 1 year high of $24.11. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.82 and a current ratio of 1.90. The stock’s 50 day simple moving average is $11.04.
A number of equities analysts have recently issued reports on SPTN shares. ValuEngine upgraded SpartanNash from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. BidaskClub upgraded SpartanNash from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 31st. Barclays dropped their price target on SpartanNash from $13.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday. BMO Capital Markets downgraded SpartanNash from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $13.00 to $8.00 in a research note on Friday, August 2nd. Finally, Zacks Investment Research downgraded SpartanNash from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.17.
SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 60,000 stock-keeping units, such as 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 pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.
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