Simply Good Foods (NASDAQ:SMPL) Raised to Buy at Jefferies Financial Group

Simply Good Foods (NASDAQ:SMPL) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat reports. The firm presently has a $22.00 price target on the financial services provider’s stock, down from their prior price target of $23.00. Jefferies Financial Group’s price objective would indicate a potential upside of 52.67% from the stock’s current price.

A number of other research analysts also recently commented on the company. Mizuho set a $30.00 price target on Simply Good Foods in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a research report on Monday, December 29th. UBS Group reiterated a “neutral” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Sanford C. Bernstein reissued an “outperform” rating on shares of Simply Good Foods in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $22.00 price target on shares of Simply Good Foods in a research note on Monday, December 15th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.11.

Simply Good Foods Stock Performance

Simply Good Foods stock opened at $14.41 on Monday. Simply Good Foods has a 12-month low of $14.28 and a 12-month high of $38.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.01 and a quick ratio of 3.24. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.88 and a beta of 0.27. The firm’s fifty day moving average price is $17.92 and its 200 day moving average price is $20.81.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd lifted its stake in Simply Good Foods by 740.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 162,845 shares of the financial services provider’s stock worth $4,042,000 after purchasing an additional 143,458 shares during the last quarter. Savoir Faire Capital Management L.P. increased its stake in Simply Good Foods by 96.8% during the third quarter. Savoir Faire Capital Management L.P. now owns 145,956 shares of the financial services provider’s stock valued at $3,623,000 after purchasing an additional 71,773 shares during the last quarter. Thornburg Investment Management Inc. acquired a new stake in shares of Simply Good Foods during the second quarter worth $8,238,000. Magnetar Financial LLC lifted its position in shares of Simply Good Foods by 134.0% in the 3rd quarter. Magnetar Financial LLC now owns 141,076 shares of the financial services provider’s stock worth $3,502,000 after buying an additional 80,795 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Simply Good Foods in the 2nd quarter valued at about $36,419,000. 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.