The Simply Good Foods Company (NASDAQ:SMPL) Receives Consensus Recommendation of “Hold” from Analysts

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have been given a consensus recommendation of “Hold” by the eleven brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.2222.

Several equities analysts recently issued reports on SMPL shares. Zacks Research lowered shares of Simply Good Foods from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 28th. Jefferies Financial Group lowered their price objective on Simply Good Foods from $32.00 to $27.00 and set a “hold” rating for the company in a research report on Wednesday, October 22nd. Sanford C. Bernstein boosted their price objective on Simply Good Foods from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group decreased their target price on Simply Good Foods from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Finally, Mizuho lowered their target price on Simply Good Foods from $43.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th.

Insider Transactions at Simply Good Foods

In related news, CAO Timothy Allen Matthews sold 5,859 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $19.47, for a total transaction of $114,074.73. Following the transaction, the chief accounting officer directly owned 18,065 shares of the company’s stock, valued at $351,725.55. This represents a 24.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael L. Clawson purchased 5,000 shares of Simply Good Foods stock in a transaction on Monday, November 17th. The stock was bought at an average price of $20.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the insider directly owned 37,620 shares of the company’s stock, valued at approximately $752,400. This trade represents a 15.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 8.76% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

A number of institutional investors and hedge funds have recently made changes to their positions in SMPL. Yousif Capital Management LLC increased its position in Simply Good Foods by 1.0% in the 2nd quarter. Yousif Capital Management LLC now owns 34,173 shares of the financial services provider’s stock valued at $1,080,000 after buying an additional 341 shares in the last quarter. California State Teachers Retirement System grew its stake in Simply Good Foods by 0.4% in 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 acquiring an additional 383 shares during the period. NorthCrest Asset Manangement LLC grew its stake in Simply Good Foods by 6.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 8,843 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 510 shares during the period. EverSource Wealth Advisors LLC increased 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 acquiring an additional 538 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Simply Good Foods by 9.8% during the second quarter. Blue Trust Inc. now owns 6,050 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 542 shares during the period. Institutional investors own 88.45% of the company’s stock.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $19.64 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.30 and a current ratio of 3.64. Simply Good Foods has a fifty-two week low of $18.45 and a fifty-two week high of $40.01. The company has a 50 day simple moving average of $20.36 and a two-hundred day simple moving average of $26.42. The company has a market capitalization of $1.87 billion, a PE ratio of 19.26, a P/E/G ratio of 4.93 and a beta of 0.37.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Simply Good Foods had a return on equity of 10.06% and a net margin of 7.14%.The firm had revenue of $369.04 million during the quarter, compared to analyst estimates of $369.07 million. During the same quarter last year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Research analysts anticipate that Simply Good Foods will post 1.78 earnings per share for the current year.

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.