In the latest trading session, Spartan Stores (SPTN) closed at $19.18, marking a -1.59% move from the previous day. This change was narrower than the S&P 500's 3.53% loss on the day. At the same time, the Dow lost 3.44%, and the tech-heavy Nasdaq lost 3.73%.
Prior to today's trading, shares of the grocery store operator and grocery distributor had gained 18.88% over the past month. This has outpaced the Retail-Wholesale sector's gain of 6.39% and the S&P 500's gain of 2.89% in that time.
Wall Street will be looking for positivity from SPTN as it approaches its next earnings report date. On that day, SPTN is projected to report earnings of $0.62 per share, which would represent year-over-year growth of 106.67%. Our most recent consensus estimate is calling for quarterly revenue of $2.15 billion, up 7.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.52 per share and revenue of $9.45 billion, which would represent changes of +129.09% and +10.71%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for SPTN. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SPTN currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, SPTN is holding a Forward P/E ratio of 7.72. This valuation marks a discount compared to its industry's average Forward P/E of 12.36.
The Food - Natural Foods Products industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SPTN in the coming trading sessions, be sure to utilize Zacks.com.
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