Simply Good Foods (NASDAQ:SMPL) Upgraded by Jefferies Financial Group to “Buy” Rating

Jefferies Financial Group upgraded shares of Simply Good Foods (NASDAQ:SMPL) from a hold rating to a buy rating in a research report report published on Monday, Marketbeat.com reports. Jefferies Financial Group currently has $22.00 price target on the financial services provider’s stock, down from their prior price target of $23.00.

Several other research firms have also issued reports on SMPL. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $22.00 target price on shares of Simply Good Foods in a report on Monday, December 15th. Zacks Research downgraded shares of Simply Good Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. UBS Group reiterated a “neutral” rating on shares of Simply Good Foods in a research 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. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.11.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $15.22 on Monday. The stock has a 50-day simple moving average of $17.85 and a two-hundred day simple moving average of $20.71. Simply Good Foods has a 52-week low of $14.28 and a 52-week high of $38.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01. The firm has a market capitalization of $1.41 billion, a PE ratio of 16.91, a P/E/G ratio of 1.88 and a beta of 0.27.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position 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 buying an additional 538 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Simply Good Foods by 82.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 807 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Simply Good Foods during the third quarter valued at $36,000. Parallel Advisors LLC grew its stake in Simply Good Foods by 167.4% during the fourth quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,331 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Simply Good Foods in the 4th quarter valued at $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.