Wall Street Zen Downgrades Simply Good Foods (NASDAQ:SMPL) to Hold

Simply Good Foods (NASDAQ:SMPL) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts also recently weighed in on SMPL. DA Davidson cut their price objective on shares of Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, June 9th. Citigroup cut their price objective on shares of Simply Good Foods from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley upped their price target on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 10th. Mizuho increased their price objective on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, April 11th. Finally, UBS Group began coverage on shares of Simply Good Foods in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $41.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.86.

Simply Good Foods Trading Down 1.5%

NASDAQ SMPL opened at $32.29 on Friday. The firm has a market capitalization of $3.26 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.75 and a beta of 0.72. The company has a 50-day simple moving average of $35.07 and a 200-day simple moving average of $36.12. Simply Good Foods has a one year low of $31.25 and a one year high of $40.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.70 and a current ratio of 4.27.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. The firm had revenue of $359.70 million for the quarter, compared to the consensus estimate of $354.50 million. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. Simply Good Foods’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. On average, equities analysts forecast that Simply Good Foods will post 1.78 earnings per share for the current year.

Insider Activity at Simply Good Foods

In related news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the sale, the senior vice president now owns 12,839 shares in the company, valued at approximately $478,252.75. This represents a 28.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.35% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

Hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its position in shares of Simply Good Foods by 72.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 445 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Simply Good Foods in the 1st quarter valued at approximately $54,000. Caitong International Asset Management Co. Ltd purchased a new stake in Simply Good Foods in the 1st quarter worth approximately $55,000. Smartleaf Asset Management LLC lifted its position in Simply Good Foods by 255.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,229 shares in the last quarter. Finally, Quarry LP lifted its position in Simply Good Foods by 59.7% in the 1st quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock worth $69,000 after buying an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

About Simply Good Foods

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.