Pivotal Research analyst Ajay Jain assigned a Sell rating to SpartanNash Co (NASDAQ: SPTN) today and set a price target of $15. The company’s shares closed yesterday at $18.88.
Jain said:
“We reiterate our SELL. Despite the high rate of earnings deceleration expected in 2Q, SPTN still trades at a premium to Kroger and Supervalu.”
According to TipRanks.com, Jain is a 2-star analyst with an average return of 1.8% and a 46.6% success rate. Jain covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Performance Food Group, and US Food Holdings Corp.
SpartanNash Co has an analyst consensus of Hold, with a price target consensus of $19.
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The company has a one-year high of $31.59 and a one-year low of $16.32. Currently, SpartanNash Co has an average volume of 241.7K.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SPTN in relation to earlier this year.
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SpartanNash Co. engages in the distribution of grocery products to military commissaries in the U.S. It operates through the following segments: Military, Food Distribution, and Retail. The Military segment sells and distributes grocery products primarily to U.S. military commissaries and exchanges.
