We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
With everybody hunkering down at home nowadays, on quarantine while COVID-19 rages, there’s been a shift in consumer spending habits. Rather than spending money on fancy trips and nights out on the town, most people are using the lion’s share of their budgets at the grocery store. That’s helping to provide a solid tailwind for businesses surrounding grocery stores. Today’s Bull of the Day is in the food distribution business, benefiting directly from this new trend.
Today’s Bull of the Day is Zacks Rank #1 (Strong Buy) SpartanNash (SPTN - Free Report) . SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 52,000 stock-keeping units. The Military segment sells and distributes grocery products to military commissaries and exchanges located in 39 states across the United States and the District of Columbia, Europe, Cuba, Puerto Rico, Honduras, Bahrain, Djibouti, and Egypt.
The reason for the favorable Zacks Rank is the recent bullishness coming from analysts. Over the last sixty days, analysts have increased estimates for the current quarter and current year. The bullish activity has pushed up the current quarter Zacks Consensus Estimate from 22 cents to 38 cents. Current year consensus is up from $1.23 to $1.39. If earnings hit the mark, that would represent 58% year-over-ear EPS growth for the current quarter and 26% growth for the current year.
This positive earnings trend is new for shares of SPTN. This is a stock which struggled as EPS estimates were subdued from early 2017 through mid-2019. The downward trend in EPS estimates pushed the stock down from highs near $40 to lows under $10. While price trends can reverse on a dime, earnings trends take much longer to develop. The new, positive trend began earlier this year. Now that earnings have bottomed out and turned to the upside, it looks like there is a good chance SpartanNash can continue its run off the lows.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Bull of the Day: SpartanNash (SPTN)
With everybody hunkering down at home nowadays, on quarantine while COVID-19 rages, there’s been a shift in consumer spending habits. Rather than spending money on fancy trips and nights out on the town, most people are using the lion’s share of their budgets at the grocery store. That’s helping to provide a solid tailwind for businesses surrounding grocery stores. Today’s Bull of the Day is in the food distribution business, benefiting directly from this new trend.
Today’s Bull of the Day is Zacks Rank #1 (Strong Buy) SpartanNash (SPTN - Free Report) . SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 52,000 stock-keeping units. The Military segment sells and distributes grocery products to military commissaries and exchanges located in 39 states across the United States and the District of Columbia, Europe, Cuba, Puerto Rico, Honduras, Bahrain, Djibouti, and Egypt.
The reason for the favorable Zacks Rank is the recent bullishness coming from analysts. Over the last sixty days, analysts have increased estimates for the current quarter and current year. The bullish activity has pushed up the current quarter Zacks Consensus Estimate from 22 cents to 38 cents. Current year consensus is up from $1.23 to $1.39. If earnings hit the mark, that would represent 58% year-over-ear EPS growth for the current quarter and 26% growth for the current year.
SpartanNash Company Price and Consensus
SpartanNash Company price-consensus-chart | SpartanNash Company Quote
This positive earnings trend is new for shares of SPTN. This is a stock which struggled as EPS estimates were subdued from early 2017 through mid-2019. The downward trend in EPS estimates pushed the stock down from highs near $40 to lows under $10. While price trends can reverse on a dime, earnings trends take much longer to develop. The new, positive trend began earlier this year. Now that earnings have bottomed out and turned to the upside, it looks like there is a good chance SpartanNash can continue its run off the lows.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>