Simply Good Foods (NASDAQ:SMPL) Cut to Hold at Zacks Research

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

Other analysts also recently issued research reports about the company. Mizuho set a $30.00 target price on Simply Good Foods in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a research report on Monday, December 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Simply Good Foods in a report on Friday, January 9th. UBS Group restated a “neutral” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $22.00 target price on shares of Simply Good Foods in a research report on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.67.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $14.41 on Tuesday. The firm has a market capitalization of $1.33 billion, a PE ratio of 16.01, a PEG ratio of 1.93 and a beta of 0.26. Simply Good Foods has a 1 year low of $14.36 and a 1 year high of $38.15. The company has a current ratio of 5.01, a quick ratio of 3.24 and a debt-to-equity ratio of 0.23. The firm’s fifty day simple moving average is $18.03 and its 200 day simple moving average is $21.02.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly 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 analysts’ expectations of $337.64 million. Simply Good Foods had a net margin of 6.26% and a return on equity of 9.56%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. On average, sell-side analysts anticipate that Simply Good Foods will post 1.78 EPS for the current year.

Institutional Trading of Simply Good Foods

A number of large investors have recently bought and sold shares of the stock. 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 acquiring an additional 538 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Simply Good Foods by 82.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 807 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Simply Good Foods during the 3rd quarter worth about $36,000. Parallel Advisors LLC increased its position in shares of Simply Good Foods by 167.4% during the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Simply Good Foods during the 4th quarter valued at about $59,000. 88.45% of the stock is currently owned by 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.