Simply Good Foods (NASDAQ:SMPL) Upgraded at Zacks Research

Zacks Research upgraded shares of Simply Good Foods (NASDAQ:SMPL) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also commented on the company. Morgan Stanley set a $24.00 price objective on Simply Good Foods in a research report on Monday, October 27th. UBS Group reaffirmed a “neutral” rating on shares of Simply Good Foods in a report on Friday, January 9th. Sanford C. Bernstein reissued an “outperform” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $22.00 price target on shares of Simply Good Foods in a research note on Monday, December 15th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Simply Good Foods currently has an average rating of “Hold” and an average price target of $29.67.

Simply Good Foods Stock Down 1.9%

SMPL stock opened at $19.23 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.01 and a quick ratio of 3.24. The firm’s fifty day simple moving average is $19.82 and its 200-day simple moving average is $24.05. Simply Good Foods has a 12 month low of $18.45 and a 12 month high of $38.81. The company has a market capitalization of $1.78 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 2.55 and a beta of 0.27.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, January 8th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $340.20 million during the quarter, compared to the consensus estimate of $337.64 million. Simply Good Foods had a net margin of 6.26% and a return on equity of 9.56%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. As a group, equities research analysts forecast that Simply Good Foods will post 1.78 earnings per share for the current year.

Insider Transactions at Simply Good Foods

In related news, CAO Timothy Allen Matthews sold 5,859 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $19.47, for a total transaction of $114,074.73. Following the completion of the sale, the chief accounting officer directly owned 18,065 shares in the company, valued at approximately $351,725.55. The trade was a 24.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Bealer acquired 9,946 shares of Simply Good Foods stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average cost of $20.01 per share, with a total value of $199,019.46. Following the completion of the purchase, the chief financial officer owned 32,966 shares in the company, valued at $659,649.66. The trade was a 43.21% increase in their position. The SEC filing for this purchase provides additional information. Corporate 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 bought and sold shares of SMPL. Yousif Capital Management LLC raised its holdings 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 acquiring an additional 341 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of 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 purchasing an additional 383 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in 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 worth $215,000 after buying an additional 510 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake 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 last quarter. Finally, Blue Trust Inc. boosted its stake in 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 buying an additional 542 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

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.