Simply Good Foods (NASDAQ:SMPL – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.
Several other equities analysts also recently commented on SMPL. Mizuho set a $30.00 price objective on shares of Simply Good Foods in a report on Thursday, January 15th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Simply Good Foods in a report on Friday, January 9th. BTIG Research initiated coverage on shares of Simply Good Foods in a report on Monday. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on Simply Good Foods from $16.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus decreased their target price on Simply Good Foods from $32.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.64.
Check Out Our Latest Report on SMPL
Simply Good Foods Price Performance
Simply Good Foods (NASDAQ:SMPL – Get Free Report) last announced its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $326.01 million for the quarter, compared to the consensus estimate of $345.08 million. Simply Good Foods had a positive return on equity of 9.72% and a negative net margin of 7.46%.The business’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. On average, analysts predict that Simply Good Foods will post 1.78 EPS for the current year.
Hedge Funds Weigh In On Simply Good Foods
Several institutional investors and hedge funds have recently modified their holdings of SMPL. River Road Asset Management LLC acquired a new position in shares of Simply Good Foods in the fourth quarter valued at about $31,857,000. Marshall Wace LLP acquired a new stake in Simply Good Foods during the third quarter worth approximately $31,825,000. Millennium Management LLC grew its position in Simply Good Foods by 482.7% during the third quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock worth $30,932,000 after buying an additional 1,032,358 shares in the last quarter. Voloridge Investment Management LLC grew its position in Simply Good Foods by 781.1% during the third quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock worth $22,397,000 after buying an additional 799,983 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Simply Good Foods by 119.5% during the third quarter. Qube Research & Technologies Ltd now owns 1,313,726 shares of the financial services provider’s stock worth $32,607,000 after buying an additional 715,110 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.
Trending Headlines about Simply Good Foods
Here are the key news stories impacting Simply Good Foods this week:
- Neutral Sentiment: DA Davidson reiterated a “Neutral” rating on SMPL, signaling no change in conviction from that broker. Simply Good Foods’ (SMPL) “Neutral” Rating Reiterated at DA Davidson
- Neutral Sentiment: Stephens reiterated an Equal Weight rating, keeping the stock at market?perform posture rather than upgrading or downgrading. Simply Good Foods’ (SMPL) Equal Weight Rating Reiterated at Stephens
- Negative Sentiment: Multiple securities?law firms have opened investigations into SMPL over disclosures tied to its OWYN expansion and related guidance; firms contacting shareholders include Levi & Korsinsky and several others, raising litigation risk and investor uncertainty. Lost Money on The Simply Good Foods Company (SMPL)? Contact Levi & Korsinsky to Protect Your Rights
- Negative Sentiment: Coverage and press notices highlight an announced ~18% share drop tied to expansion execution issues for OWYN products; BFA Law and other firms point to that decline as the basis for investigations, which could lead to shareholder suits or disclosures that further pressure the stock. SMPL Stock Drop: Simply Good Foods Expansion Issues Lead to 18% Stock Drop – Securities Fraud Investigation to Recover Losses Pending
- Negative Sentiment: Several analysts cut price targets this week (Morgan Stanley to $14, TD Cowen to $13, Stifel to $20), narrowing upside expectations and signaling lowered conviction on near?term recovery. Morgan Stanley Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $14.00 TD Cowen Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $13.00 Stifel Nicolaus Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $20.00
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.
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