The Simply Good Foods Company (NASDAQ:SMPL) Receives $22.64 Average PT from Brokerages

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $22.6364.

Several brokerages have recently weighed in on SMPL. TD Cowen cut their price objective on Simply Good Foods from $20.00 to $13.00 and set a “hold” rating for the company in a report on Friday, April 10th. Morgan Stanley cut their price objective on Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, April 10th. Zacks Research lowered Simply Good Foods from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. Sanford C. Bernstein restated an “outperform” rating on shares of Simply Good Foods in a report on Friday, January 9th. Finally, DA Davidson restated a “neutral” rating and issued a $39.00 price objective on shares of Simply Good Foods in a report on Friday, April 10th.

Simply Good Foods Trading Down 1.6%

Shares of SMPL stock opened at $13.37 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.87 and a current ratio of 5.06. Simply Good Foods has a 1 year low of $10.21 and a 1 year high of $36.99. The stock has a fifty day moving average of $14.28 and a two-hundred day moving average of $17.84. The firm has a market capitalization of $1.21 billion, a PE ratio of -11.24 and a beta of 0.33.

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

Insider Buying and Selling at Simply Good Foods

In other news, Director James M. Kilts acquired 80,000 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was acquired at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the acquisition, the director directly owned 172,854 shares in the company, valued at $2,141,661.06. This represents a 86.16% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 8.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Simply Good Foods

Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its holdings in shares of Simply Good Foods by 0.4% during the second quarter. California State Teachers Retirement System now owns 88,477 shares of the financial services provider’s stock valued at $2,795,000 after purchasing an additional 383 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of Simply Good Foods by 6.1% during the third quarter. NorthCrest Asset Manangement LLC now owns 8,843 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 510 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 valued at $31,000 after purchasing an additional 538 shares during the last quarter. AQR Capital Management LLC lifted its stake in Simply Good Foods by 3.4% in the 1st quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider’s stock worth $656,000 after acquiring an additional 617 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Simply Good Foods by 4.1% in the 4th quarter. Cerity Partners LLC now owns 18,000 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 701 shares in the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

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.