UBS Group Issues Pessimistic Forecast for Simply Good Foods (NASDAQ:SMPL) Stock Price

Simply Good Foods (NASDAQ:SMPL) had its price objective dropped by equities research analysts at UBS Group from $23.00 to $16.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price target suggests a potential upside of 12.99% from the stock’s previous close.

A number of other analysts have also recently commented on SMPL. Mizuho set a $30.00 price target on Simply Good Foods in a research report on Thursday, January 15th. Zacks Research lowered Simply Good Foods from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Jefferies Financial Group upgraded Simply Good Foods from a “hold” rating to a “buy” rating and lowered their price objective for the company from $23.00 to $22.00 in a research note on Monday, March 16th. 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. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Simply Good Foods in a report on Friday, January 9th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Simply Good Foods presently has an average rating of “Hold” and a consensus price target of $28.33.

Simply Good Foods Price Performance

Shares of Simply Good Foods stock opened at $14.16 on Thursday. Simply Good Foods has a 1 year low of $13.62 and a 1 year high of $38.15. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 15.73 and a beta of 0.33. The company has a 50-day moving average of $16.07 and a 200 day moving average of $19.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.01 and a quick ratio of 3.24.

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

Hedge Funds Weigh In On Simply Good Foods

A number of hedge funds have recently added to or reduced their stakes in SMPL. California State Teachers Retirement System boosted its stake in Simply Good Foods by 0.4% during the 2nd 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 raised its stake in shares of 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 worth $215,000 after purchasing an additional 510 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 538 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Simply Good Foods by 3.4% during the first quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider’s stock valued at $656,000 after purchasing an additional 617 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Simply Good Foods by 4.1% during the fourth quarter. Cerity Partners LLC now owns 18,000 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 701 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

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.