Weiss Ratings Reaffirms Hold (C-) Rating for Simply Good Foods (NASDAQ:SMPL)

Simply Good Foods (NASDAQ:SMPL)‘s stock had its “hold (c-)” rating reissued by investment analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other analysts also recently weighed in on SMPL. Mizuho reduced their target price on shares of Simply Good Foods from $47.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, July 15th. UBS Group reduced their target price on shares of Simply Good Foods from $36.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Wall Street Zen downgraded shares of Simply Good Foods from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Stifel Nicolaus reduced their target price on shares of Simply Good Foods from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, June 27th. Finally, Sanford C. Bernstein set a $45.00 target price on shares of Simply Good Foods and gave the stock an “outperform” rating in a report on Friday, July 11th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Simply Good Foods has a consensus rating of “Moderate Buy” and an average target price of $38.75.

Simply Good Foods Stock Performance

Shares of NASDAQ SMPL opened at $24.05 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.46 and a current ratio of 3.95. The company has a market cap of $2.42 billion, a P/E ratio of 16.82, a P/E/G ratio of 2.58 and a beta of 0.53. The firm’s fifty day moving average is $27.63 and its two-hundred day moving average is $31.93. Simply Good Foods has a 52-week low of $23.50 and a 52-week high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The firm had revenue of $380.96 million for the quarter, compared to the consensus estimate of $381.68 million. During the same period in the previous year, the firm posted $0.50 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, analysts anticipate that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Insider Activity at Simply Good Foods

In other news, CEO Geoff E. Tanner purchased 6,050 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was purchased at an average cost of $33.11 per share, with a total value of $200,315.50. Following the purchase, the chief executive officer owned 98,190 shares in the company, valued at approximately $3,251,070.90. This trade represents a 6.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.35% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Large investors have recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in Simply Good Foods in the 2nd quarter valued at about $48,841,000. Norges Bank purchased a new stake in Simply Good Foods in the 2nd quarter valued at about $36,419,000. Wellington Management Group LLP boosted its position in Simply Good Foods by 18.3% in the 1st quarter. Wellington Management Group LLP now owns 4,195,497 shares of the financial services provider’s stock valued at $144,703,000 after buying an additional 649,258 shares during the period. Victory Capital Management Inc. boosted its position in Simply Good Foods by 52.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,539,208 shares of the financial services provider’s stock valued at $53,087,000 after buying an additional 527,089 shares during the period. Finally, Benchstone Capital Management LP purchased a new stake in Simply Good Foods in the 2nd quarter valued at about $16,373,000. 88.45% of the stock is owned by hedge funds and other institutional investors.

Simply Good Foods Company Profile

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.