SpartanNash Co (SPTN) Receives a Sell from Pivotal Research


Pivotal Research analyst Ajay Jain reiterated a Sell rating on SpartanNash Co (SPTN) today and set a price target of $14. The company’s shares opened today at $22.27.

Jain commented:

“We reiterate our SELL. Based on consensus, SPTN trades at a comparable multiple of around 6.7x forward EV/EBITDA compared to Ahold/Delhaize and Kroger. However, we remain below consensus and our target multiple of 6.0x EV/EBITDA implies a $14 price target. This target multiple is more in line with UNFI (HOLD). Based on continued execution issues, recent earnings setbacks, and SPTN’s relative competitive position, the company specific risks should be better reflected from a valuation standpoint. Earnings remain pressured across all segments – SPTN’s 4Q18 results will be released after the close with a conf. call scheduled tomorrow 2/21 at 8 am ET (dial in #: For 4Q, our adj. EPS est. of $0.37 is unchanged and is $0.01 below consensus. We are materially below the ($1.98 consensus). Our retail comp est. for 4Q18 is -1.5%.”

According to TipRanks.com, Jain is a 4-star analyst with an average return of 11.3% and a 55.7% success rate. Jain covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Performance Food Group, and US Food Holdings Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SpartanNash Co with a $22.50 average price target.

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SpartanNash Co’s market cap is currently $799.6M and has a P/E ratio of 9.94. The company has a Price to Book ratio of 1.09.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock.

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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.

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