Simply Good Foods (NASDAQ:SMPL) Rating Increased to Hold at Zacks Research

Simply Good Foods (NASDAQ:SMPL) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts have also recently commented on SMPL. Stifel Nicolaus decreased their price objective on shares of Simply Good Foods from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 10th. BTIG Research assumed coverage on Simply Good Foods in a report on Monday, April 13th. They issued a “neutral” rating for the company. Jefferies Financial Group upgraded shares of Simply Good Foods from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research report on Monday, March 16th. UBS Group reduced their price objective on shares of Simply Good Foods from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Simply Good Foods from $16.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, April 10th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.82.

Simply Good Foods Stock Up 4.3%

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

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

Insider Activity

In other news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the transaction, the director owned 111,743 shares in the company, valued at approximately $1,316,332.54. This trade represents a 9.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Kilts acquired 80,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average price of $12.39 per share, with a total value of $991,200.00. Following the completion of the transaction, the director 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 disclosure for this purchase is available in the SEC filing. 8.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SMPL. Royal Bank of Canada boosted its stake in shares of Simply Good Foods by 9.0% in the first quarter. Royal Bank of Canada now owns 71,023 shares of the financial services provider’s stock valued at $2,448,000 after purchasing an additional 5,893 shares during the period. AQR Capital Management LLC raised its holdings in Simply Good Foods by 3.4% in the first quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 617 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Simply Good Foods by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,819 shares of the financial services provider’s stock valued at $1,891,000 after acquiring an additional 2,850 shares in the last quarter. Caxton Associates LLP acquired a new stake in Simply Good Foods in the first quarter valued at approximately $264,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Simply Good Foods by 10.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,229 shares of the financial services provider’s stock valued at $7,734,000 after acquiring an additional 21,696 shares in the last quarter. Hedge funds and other 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.