Zacks Research Downgrades Simply Good Foods (NASDAQ:SMPL) to Hold

Simply Good Foods (NASDAQ:SMPL) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

SMPL has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $22.00 price target on shares of Simply Good Foods in a research note on Monday, December 15th. Mizuho set a $30.00 target price on Simply Good Foods in a research report on Thursday, January 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Simply Good Foods in a report on Monday, December 29th. UBS Group reissued a “neutral” rating on shares of Simply Good Foods in a research report on Friday, January 9th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $29.67.

Simply Good Foods Stock Down 1.2%

Shares of SMPL opened at $14.83 on Tuesday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.95 and a beta of 0.26. Simply Good Foods has a 12-month low of $14.57 and a 12-month high of $38.15. The company has a current ratio of 5.01, a quick ratio of 3.24 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average price of $18.14 and a 200-day moving average price of $21.07.

Simply Good Foods (NASDAQ:SMPL) last posted 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 company had revenue of $340.20 million for the quarter, compared to the consensus estimate 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 was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 EPS. Equities research analysts expect that Simply Good Foods will post 1.78 earnings per share for the current year.

Hedge Funds Weigh In On Simply Good Foods

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in shares of Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 538 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Simply Good Foods during the 3rd quarter worth $36,000. Hantz Financial Services Inc. lifted its stake in shares of Simply Good Foods by 82.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 807 shares during the last quarter. Parallel Advisors LLC boosted its position in Simply Good Foods by 167.4% during the fourth quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,331 shares in the last quarter. Finally, CWM LLC boosted its position in Simply Good Foods by 343.0% during the third quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 2,017 shares in the last quarter. 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.