Jefferies Financial Group Analysts Reduce Earnings Estimates for SpartanNash Co (NASDAQ:SPTN)

SpartanNash Co (NASDAQ:SPTN) – Stock analysts at Jefferies Financial Group decreased their Q2 2019 EPS estimates for SpartanNash in a research report issued to clients and investors on Monday, August 12th. Jefferies Financial Group analyst C. Mandeville now expects that the company will earn $0.34 per share for the quarter, down from their previous forecast of $0.37. Jefferies Financial Group also issued estimates for SpartanNash’s Q3 2019 earnings at $0.38 EPS, FY2019 earnings at $1.28 EPS, Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.36 EPS, FY2022 earnings at $1.48 EPS and FY2023 earnings at $1.62 EPS.

Other equities analysts also recently issued reports about the stock. Barclays reduced their price objective on shares of SpartanNash from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday. BidaskClub upgraded shares of SpartanNash from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 31st. BMO Capital Markets downgraded shares of SpartanNash from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $13.00 to $8.00 in a research note on Friday, August 2nd. Loop Capital started coverage on shares of SpartanNash in a research note on Tuesday, June 25th. They set a “buy” rating and a $15.00 price objective for the company. Finally, ValuEngine upgraded shares of SpartanNash from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. SpartanNash currently has a consensus rating of “Hold” and a consensus target price of $14.17.

Shares of NASDAQ SPTN opened at $11.46 on Wednesday. The firm has a market cap of $343.17 million, a PE ratio of 6.13, a PEG ratio of 1.01 and a beta of 1.37. The company has a current ratio of 1.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.49. SpartanNash has a 1-year low of $8.82 and a 1-year high of $23.00. The company has a fifty day moving average price of $11.04 and a 200 day moving average price of $14.82.

SpartanNash (NASDAQ:SPTN) last announced its earnings results on Wednesday, August 14th. The company reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. SpartanNash had a net margin of 0.35% and a return on equity of 7.77%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS.

Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in shares of SpartanNash in the 2nd quarter valued at about $35,000. Advisor Group Inc. raised its holdings in shares of SpartanNash by 28.4% in the 4th quarter. Advisor Group Inc. now owns 3,213 shares of the company’s stock valued at $55,000 after purchasing an additional 711 shares during the period. Quantamental Technologies LLC raised its holdings in shares of SpartanNash by 35.5% in the 1st quarter. Quantamental Technologies LLC now owns 3,859 shares of the company’s stock valued at $61,000 after purchasing an additional 1,011 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of SpartanNash by 270.5% in the 1st quarter. Meeder Asset Management Inc. now owns 5,758 shares of the company’s stock valued at $91,000 after purchasing an additional 4,204 shares during the period. Finally, Glen Harbor Capital Management LLC raised its holdings in shares of SpartanNash by 14.3% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 8,736 shares of the company’s stock valued at $102,000 after purchasing an additional 1,092 shares during the period. 84.63% of the stock is currently owned by institutional investors.

About SpartanNash

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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Earnings History and Estimates for SpartanNash (NASDAQ:SPTN)

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