.jpg "SpartanNash Co (NASDAQ: SPTN)")
Pivotal Research analyst Ajay Jain upgraded SpartanNash Co (SPTN) to Hold today and set a price target of $9. The company’s shares closed last Monday at $10.10, close to its 52-week low of $8.82.
Jain wrote:
“We remain below the latest guidance range with a revised FY19 EPS est. of $1.11 (down from $1.16) and EBITDA est. of $179 million (from $182 million). Consistent with SPTN’s pre-announcement earlier this week, the revised FY19 EBITDA guidance is $183-$195 million (from $190-$205 million) and adj. EPS guidance is $1.20-$1.35 (from $1.20-$1.50). With SPTN now trading at a forward EV/EBITDA multiple of around 5.5x, near-term risks are better accounted for.”
According to TipRanks.com, Jain is a 5-star analyst with an average return of 14.8% and a 60.2% success rate. Jain covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, US Food Holdings Corp, and United Natural Foods.
The word on The Street in general, suggests a Hold analyst consensus rating for SpartanNash Co with a $10 average price target.
See today’s analyst top recommended stocks >>
Based on SpartanNash Co’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $6.81 million. In comparison, last year the company had a net profit of $17.36 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
