Simply Good Foods (NASDAQ:SMPL) Stock Price Up 5% – What’s Next?

Shares of The Simply Good Foods Company (NASDAQ:SMPL) shot up 5% during trading on Wednesday . The stock traded as high as $10.35 and last traded at $10.3250. 944,343 shares traded hands during trading, a decline of 62% from the average daily volume of 2,479,377 shares. The stock had previously closed at $9.83.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SMPL. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $14.00 price target on shares of Simply Good Foods in a report on Friday, July 10th. Sanford C. Bernstein downgraded shares of Simply Good Foods from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $17.00 to $12.00 in a research note on Wednesday, June 3rd. Zacks Research raised shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. DA Davidson reduced their price target on Simply Good Foods from $39.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Finally, Jefferies Financial Group set a $15.00 price objective on Simply Good Foods in a report on Wednesday, August 26th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Simply Good Foods presently has a consensus rating of “Hold” and a consensus target price of $14.45.

Simply Good Foods Price Performance

The company has a quick ratio of 3.10, a current ratio of 4.80 and a debt-to-equity ratio of 0.28. The firm has a market cap of $889.02 million, a PE ratio of -4.63 and a beta of 0.17. The stock has a 50 day moving average price of $10.96 and a two-hundred day moving average price of $12.31.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Thursday, July 9th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.35 by $0.07. The firm had revenue of $356.98 million during the quarter, compared to analyst estimates of $332.99 million. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. Simply Good Foods’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. As a group, equities analysts expect that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On Simply Good Foods

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Simply Good Foods in the second quarter worth about $180,913,000. Boston Trust Walden Corp grew its position in shares of Simply Good Foods by 10.0% during the 1st quarter. Boston Trust Walden Corp now owns 3,635,464 shares of the financial services provider’s stock valued at $52,169,000 after acquiring an additional 330,330 shares during the period. William Blair Investment Management LLC grew its position in shares of Simply Good Foods by 28.4% during the 4th quarter. William Blair Investment Management LLC now owns 2,124,640 shares of the financial services provider’s stock valued at $42,663,000 after acquiring an additional 469,903 shares during the period. River Road Asset Management LLC purchased a new position in shares of Simply Good Foods in the 4th quarter valued at about $31,857,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Simply Good Foods by 179.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,472,753 shares of the financial services provider’s stock valued at $21,134,000 after purchasing an additional 946,216 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

Simply Good Foods Company Profile

Simply Good Foods Co (NASDAQ:SMPL) is a consumer packaged food company focused on nutrition-focused snacks and beverages. Its portfolio is built around products that support low-carbohydrate, high-protein and better-for-you eating preferences.

The company’s principal brands include Atkins, which offers nutrition bars, shakes, frozen meals, confectionery products and other low-carbohydrate foods, and Quest, which markets protein bars, cookies, chips, snacks, powders and ready-to-drink beverages.