SpartanNash (NASDAQ:SPTN) Shares Gap Down – What’s Next?

SpartanNash (NASDAQ:SPTN)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $19.76, but opened at $18.86. SpartanNash shares last traded at $19.24, with a volume of 55,091 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Northcoast Research lowered shares of SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday. StockNews.com lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th.

SpartanNash Stock Up 1.0 %

The stock has a market capitalization of $664.06 million, a PE ratio of -1,967.00 and a beta of 0.34. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.00. The company’s 50-day moving average is $18.63 and its 200 day moving average is $19.97.

SpartanNash (NASDAQ:SPTN) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.33 by $0.09. During the same quarter in the previous year, the business earned $0.35 earnings per share. As a group, analysts anticipate that SpartanNash will post 1.79 EPS for the current year.

Hedge Funds Weigh In On SpartanNash

A number of institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp raised its position in SpartanNash by 151.1% during the 4th quarter. Mackenzie Financial Corp now owns 35,518 shares of the company’s stock worth $651,000 after buying an additional 21,371 shares during the last quarter. US Asset Management LLC purchased a new position in SpartanNash during the 4th quarter worth approximately $190,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in SpartanNash by 40.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,650 shares of the company’s stock worth $1,423,000 after buying an additional 22,223 shares during the last quarter. Sovereign s Capital Management LLC purchased a new position in SpartanNash during the 4th quarter worth approximately $461,000. Finally, Squarepoint Ops LLC purchased a new position in SpartanNash during the 4th quarter worth approximately $204,000. 84.59% of the stock is owned by hedge funds and other institutional investors.

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.