Stock Buyback Program Approved by SpartanNash (SPTN) Board

SpartanNash (NASDAQ:SPTN) announced that its Board of Directors has approved a stock buyback plan, which permits the company to repurchase $50.00 million in shares on Thursday, November 16th, EventVestor reports. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

SpartanNash (NASDAQ SPTN) opened at $22.61 on Tuesday. The firm has a market cap of $843.70, a price-to-earnings ratio of 10.28, a P/E/G ratio of 3.60 and a beta of 1.02. SpartanNash has a 12-month low of $18.56 and a 12-month high of $40.38. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.81 and a quick ratio of 0.74.



SpartanNash (NASDAQ:SPTN) last released its earnings results on Wednesday, November 8th. The company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. SpartanNash had a negative net margin of 0.93% and a positive return on equity of 10.35%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. equities analysts forecast that SpartanNash will post 2.11 EPS for the current year.

Several equities research analysts have commented on the stock. Jefferies Group LLC set a $27.00 target price on shares of SpartanNash and gave the company a “hold” rating in a research note on Thursday, August 17th. BidaskClub raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of SpartanNash from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Barclays PLC lowered their price objective on shares of SpartanNash from $28.00 to $22.00 and set an “equal weight” rating for the company in a research report on Friday, November 10th. Finally, BMO Capital Markets initiated coverage on shares of SpartanNash in a research report on Tuesday, September 12th. They set a “market perform” rating and a $25.00 price objective for the company. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.20.

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SpartanNash Company Profile

SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.

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