UBS Group Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $16.00

Simply Good Foods (NASDAQ:SMPL) had its target price decreased by UBS Group from $23.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price target would indicate a potential upside of 13.84% from the stock’s current price.

Other analysts have also issued research reports about the company. Mizuho set a $30.00 price objective on Simply Good Foods in a report on Thursday, January 15th. Jefferies Financial Group upgraded Simply Good Foods from a “hold” rating to a “buy” rating and decreased their price target for the company from $23.00 to $22.00 in a research note on Monday, March 16th. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a research note on Monday, December 29th. Zacks Research lowered shares of Simply Good Foods from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Simply Good Foods in a research report on Friday, January 9th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.33.

Simply Good Foods Stock Down 1.0%

Shares of NASDAQ SMPL traded down $0.15 during midday trading on Thursday, reaching $14.06. 1,273,342 shares of the company’s stock traded hands, compared to its average volume of 2,177,511. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 15.63 and a beta of 0.26. The stock’s 50 day simple moving average is $16.33 and its 200-day simple moving average is $19.61. The company has a quick ratio of 3.24, a current ratio of 5.01 and a debt-to-equity ratio of 0.23. Simply Good Foods has a one year low of $13.62 and a one year high of $38.15.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, January 8th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The firm had revenue of $340.20 million during the quarter, compared to analyst estimates of $337.64 million. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. On average, analysts predict that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Simply Good Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Simply Good Foods by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock valued at $213,479,000 after purchasing an additional 249,405 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Simply Good Foods by 8.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,288,680 shares of the financial services provider’s stock valued at $106,443,000 after purchasing an additional 346,395 shares during the last quarter. State Street Corp lifted its position in Simply Good Foods by 0.4% during the second quarter. State Street Corp now owns 3,645,749 shares of the financial services provider’s stock worth $115,169,000 after buying an additional 14,089 shares in the last quarter. Boston Trust Walden Corp boosted its stake in Simply Good Foods by 16.0% during the third quarter. Boston Trust Walden Corp now owns 3,520,960 shares of the financial services provider’s stock worth $87,390,000 after buying an additional 486,837 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Simply Good Foods by 28.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,124,640 shares of the financial services provider’s stock worth $42,663,000 after buying an additional 469,903 shares during the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

About Simply Good Foods

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.