DA Davidson Upgrades Simply Good Foods (NASDAQ:SMPL) to Hold

Simply Good Foods (NASDAQ:SMPL) was upgraded by investment analysts at DA Davidson to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group set a $17.00 price target on shares of Simply Good Foods in a research report on Tuesday, June 30th. Morgan Stanley dropped their price objective on shares of Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, April 10th. TD Cowen cut their target price on shares of Simply Good Foods from $20.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, April 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Simply Good Foods in a research report on Thursday, June 18th. Finally, UBS Group decreased their price target on shares of Simply Good Foods from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.30.

Simply Good Foods Stock Performance

Shares of NASDAQ SMPL traded up $0.36 during midday trading on Monday, hitting $13.32. 243,452 shares of the stock traded hands, compared to its average volume of 2,524,906. The firm has a market capitalization of $1.21 billion, a P/E ratio of -11.19 and a beta of 0.13. Simply Good Foods has a one year low of $10.21 and a one year high of $34.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.87 and a current ratio of 5.06. The firm has a 50-day moving average of $12.32 and a two-hundred day moving average of $15.20.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Thursday, April 9th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. Simply Good Foods had a positive return on equity of 9.72% and a negative net margin of 7.46%.The company had revenue of $326.01 million during the quarter, compared to analyst estimates of $345.08 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. Simply Good Foods’s revenue was down 9.4% compared to the same quarter last year. On average, equities analysts forecast that Simply Good Foods will post 1.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Clayton C. Daley, Jr. bought 10,000 shares of Simply Good Foods stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $11.78 per share, with a total value of $117,800.00. Following the acquisition, the director owned 111,743 shares of the company’s stock, valued at $1,316,332.54. The trade was a 9.83% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James M. Kilts bought 80,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were purchased at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the purchase, the director owned 172,854 shares in the company, valued at $2,141,661.06. This trade represents a 86.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 8.76% of the company’s stock.

Institutional Trading of Simply Good Foods

Several institutional investors and hedge funds have recently modified their holdings of SMPL. River Road Asset Management LLC purchased a new position in shares of Simply Good Foods during the 4th quarter valued at $31,857,000. Marshall Wace LLP purchased a new stake in Simply Good Foods in the 3rd quarter worth $31,825,000. Oaktree Capital Management LP bought a new stake in Simply Good Foods during the first quarter valued at about $16,200,000. Millennium Management LLC raised its holdings 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 valued at $30,932,000 after acquiring an additional 1,032,358 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Simply Good Foods by 179.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,472,753 shares of the financial services provider’s stock valued at $21,134,000 after acquiring an additional 946,216 shares in the last quarter. 88.45% of the stock is currently owned by 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.