Spartan Stores Inc. (SPTN) Hits New 52-Week High at $33.89
Shares of Spartan Stores Inc. (NASDAQ:SPTN) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $33.89 and last traded at $31.90, with a volume of 220,126 shares. The stock had previously closed at $31.52.
A number of analysts have issued reports on the company. Northcoast Research raised Spartan Stores from a “neutral” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research raised Spartan Stores from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Saturday, August 20th. Deutsche Bank AG set a $28.00 target price on Spartan Stores and gave the stock a “hold” rating in a research note on Thursday, August 18th. Finally, Jefferies Group set a $33.00 target price on Spartan Stores and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $31.50.
The firm has a market capitalization of $1.22 billion and a price-to-earnings ratio of 20.73. The firm has a 50-day moving average price of $31.09 and a 200-day moving average price of $28.49.
Spartan Stores (NASDAQ:SPTN) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The company earned $1.83 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm earned $0.53 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts predict that Spartan Stores Inc. will post $2.15 earnings per share for the current year.
In related news, EVP Lawrence R. Pierce sold 1,213 shares of the company’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $28.87, for a total value of $35,019.31. Following the completion of the transaction, the executive vice president now directly owns 31,012 shares in the company, valued at $895,316.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Des Couch sold 14,092 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $32.29, for a total value of $455,030.68. Following the completion of the transaction, the vice president now owns 59,270 shares of the company’s stock, valued at $1,913,828.30. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Spartan Stores stock. Trexquant Investment LP bought a new stake in shares of Spartan Stores Inc. (NASDAQ:SPTN) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 61,500 shares of the company’s stock, valued at approximately $1,331,000. Trexquant Investment LP owned approximately 0.16% of Spartan Stores at the end of the most recent quarter.
Spartannash Company, formerly Spartan Stores, Inc, is a multi-regional grocery distributor and grocery retailer, and a distributor of grocery products to military commissaries in the United States. The Company’s core businesses include distributing food to military commissaries and exchanges, and independent and corporate-owned retail stores located in over 40 states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain, Egypt, Honduras, Afghanistan and Bosnia.
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