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

Simply Good Foods (NASDAQ:SMPL) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other research firms have also recently commented on SMPL. Mizuho set a $30.00 target price on shares of Simply Good Foods in a research note on Thursday, January 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Simply Good Foods in a research note on Monday, December 29th. Stifel Nicolaus set a $32.00 target price on Simply Good Foods in a research report on Friday, October 24th. Sanford C. Bernstein restated an “outperform” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Finally, Jefferies Financial Group dropped their price target on Simply Good Foods from $32.00 to $27.00 and set a “hold” rating on the stock in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.67.

Simply Good Foods Stock Down 3.0%

NASDAQ:SMPL opened at $19.60 on Monday. The company’s 50-day simple moving average is $19.82 and its 200-day simple moving average is $24.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01. Simply Good Foods has a fifty-two week low of $18.45 and a fifty-two week high of $39.29. The stock has a market capitalization of $1.81 billion, a P/E ratio of 21.78, a P/E/G ratio of 2.63 and a beta of 0.27.

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, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $340.20 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. On average, equities analysts anticipate that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

Insider Transactions at Simply Good Foods

In other news, CAO Timothy Allen Matthews sold 5,859 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 18,065 shares of the company’s stock, valued at $351,725.55. This trade represents a 24.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael L. Clawson purchased 5,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the insider directly owned 37,620 shares of the company’s stock, valued at $752,400. This represents a 15.33% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 8.76% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC increased its position in shares of Simply Good Foods by 117.8% in the fourth quarter. CWM LLC now owns 5,673 shares of the financial services provider’s stock valued at $114,000 after buying an additional 3,068 shares in the last quarter. Daytona Street Capital LLC acquired a new position in Simply Good Foods during the fourth quarter worth $159,000. Signaturefd LLC lifted its holdings in Simply Good Foods by 3,166.1% during the fourth quarter. Signaturefd LLC now owns 7,806 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 7,567 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Simply Good Foods by 281.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 148,999 shares of the financial services provider’s stock valued at $2,992,000 after purchasing an additional 109,929 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Simply Good Foods by 36.5% during the fourth quarter. SG Americas Securities LLC now owns 52,730 shares of the financial services provider’s stock worth $1,059,000 after purchasing an additional 14,114 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

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.