Simply Good Foods (NASDAQ:SMPL) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Simply Good Foods (NASDAQ:SMPL) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

A number of other research firms also recently issued reports on SMPL. DA Davidson reaffirmed a “neutral” rating and issued a $39.00 price objective on shares of Simply Good Foods in a research note on Friday, April 10th. Jefferies Financial Group raised Simply Good Foods from a “hold” rating to a “buy” rating and cut their target price for the company from $23.00 to $22.00 in a research report on Monday, March 16th. TD Cowen cut their target price on Simply Good Foods from $20.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, April 10th. Mizuho set a $19.00 target price on Simply Good Foods in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Simply Good Foods from $16.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, April 10th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.82.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $12.44 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.06 and a quick ratio of 2.87. Simply Good Foods has a 1 year low of $10.21 and a 1 year high of $34.32. The stock’s 50 day simple moving average is $12.36 and its two-hundred day simple moving average is $16.07. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -10.45 and a beta of 0.17.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, April 9th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. Simply Good Foods had a positive return on equity of 9.72% and a negative net margin of 7.46%.The business had revenue of $326.01 million for the quarter, compared to the consensus estimate of $345.08 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s revenue was down 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Simply Good Foods will post 1.54 earnings per share for the current fiscal year.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, Director James M. Kilts acquired 80,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were bought at an average price of $12.39 per share, with a total value of $991,200.00. Following the transaction, the director directly owned 172,854 shares of the company’s stock, valued at $2,141,661.06. The trade was a 86.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Clayton C. Daley, Jr. acquired 10,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $11.78 per share, for a total transaction of $117,800.00. Following the transaction, the director directly owned 111,743 shares in the company, valued at $1,316,332.54. The trade was a 9.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 8.76% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Simply Good Foods by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock valued at $213,479,000 after acquiring an additional 249,405 shares during the last quarter. Tudor Investment Corp ET AL grew its position in Simply Good Foods by 468.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 208,385 shares of the financial services provider’s stock valued at $5,172,000 after acquiring an additional 171,745 shares during the last quarter. Bessemer Group Inc. grew its position in Simply Good Foods by 230.7% in the 4th quarter. Bessemer Group Inc. now owns 690,863 shares of the financial services provider’s stock valued at $13,873,000 after acquiring an additional 481,952 shares during the last quarter. New Age Alpha Advisors LLC grew its position in Simply Good Foods by 2,413.6% in the 4th quarter. New Age Alpha Advisors LLC now owns 173,414 shares of the financial services provider’s stock valued at $3,482,000 after acquiring an additional 166,515 shares during the last quarter. Finally, Clark Estates Inc. NY bought a new position in Simply Good Foods in the 3rd quarter valued at $1,986,000. Institutional investors own 88.45% of the company’s stock.

Simply Good Foods Company Profile

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.