Simply Good Foods (NASDAQ:SMPL) Upgraded by DA Davidson to Hold Rating

Simply Good Foods (NASDAQ:SMPL) was upgraded by equities research analysts at DA Davidson to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

SMPL has been the subject of several other reports. Sanford C. Bernstein cut shares of Simply Good Foods from an “outperform” rating to a “market perform” rating and cut their target price for the company from $17.00 to $12.00 in a research note on Wednesday, June 3rd. Zacks Research upgraded shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Stephens reissued an “equal weight” rating and set a $14.00 price objective (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th. UBS Group cut their price objective on 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 Simply Good Foods from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, April 10th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Simply Good Foods presently has an average rating of “Hold” and an average price target of $17.30.

Simply Good Foods Price Performance

SMPL stock traded up $0.36 during midday trading on Monday, hitting $13.32. The company’s stock had a trading volume of 243,452 shares, compared to its average volume of 2,524,906. The company has a quick ratio of 2.87, a current ratio of 5.06 and a debt-to-equity ratio of 0.27. Simply Good Foods has a 12 month low of $10.21 and a 12 month high of $34.19. The company has a 50 day moving average of $12.32 and a two-hundred day moving average of $15.20. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -11.19 and a beta of 0.13.

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, 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 firm had revenue of $326.01 million for the quarter, compared to analysts’ expectations of $345.08 million. During the same quarter last year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. On average, analysts expect that Simply Good Foods will post 1.54 EPS for the current year.

Insiders Place Their Bets

In related news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James M. Kilts purchased 80,000 shares of Simply Good Foods stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average cost of $12.39 per share, for a total transaction of $991,200.00. Following the purchase, the director directly owned 172,854 shares in the company, valued at $2,141,661.06. This trade represents a 86.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 8.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simply Good Foods

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in Simply Good Foods by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after buying an additional 538 shares during the period. Leonteq Securities AG increased its holdings in shares of Simply Good Foods by 96.2% in the 1st quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,132 shares during the period. Hantz Financial Services Inc. raised its position in shares of Simply Good Foods by 82.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 807 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Simply Good Foods in the 3rd quarter worth $36,000. Finally, Parallel Advisors LLC lifted its position in shares of 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 buying an additional 1,331 shares during the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

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.