Zacks Investment Research upgraded shares of Simply Good Foods (NASDAQ:SMPL) from a hold rating to a buy rating in a report published on Tuesday morning, Zacks.com reports. They currently have $31.00 target price on the financial services provider’s stock.
According to Zacks, “The Simply Good Foods Company product portfolio consists primarily of nutrition bars, ready-to-drink shakes, snacks and confectionery products marketed under the Atkins(R), SimplyProtein(R), Atkins Endulge(R) and Atkins Harvest Trail brand names. The Simply Good Foods Company is based in Denver, United States. “
Other research analysts have also issued reports about the company. Buckingham Research set a $34.00 target price on Greenbrier Companies and gave the company a hold rating in a research report on Wednesday, July 3rd. ValuEngine raised Xylem from a hold rating to a buy rating in a research report on Friday, June 21st. DA Davidson assumed coverage on Nomad Foods in a research report on Wednesday, June 19th. They set a buy rating and a $26.00 target price on the stock. Deutsche Bank raised Elis from a hold rating to a buy rating in a research report on Thursday, July 4th. Finally, SunTrust Banks reaffirmed a hold rating and set a $25.00 target price on shares of Simply Good Foods in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $27.00.
SMPL opened at $26.71 on Tuesday. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 46.05 and a beta of 0.84. The company has a current ratio of 8.63, a quick ratio of 7.57 and a debt-to-equity ratio of 0.23. Simply Good Foods has a 12 month low of $16.40 and a 12 month high of $27.99. The stock has a fifty day moving average of $23.91.
Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Tuesday, July 2nd. The financial services provider reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The firm had revenue of $139.50 million during the quarter, compared to analyst estimates of $120.85 million. Simply Good Foods had a return on equity of 6.81% and a net margin of 10.79%. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. On average, research analysts forecast that Simply Good Foods will post 0.69 earnings per share for the current fiscal year.
In other news, COO Hanno E. Holm sold 1,750 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $27.87, for a total value of $48,772.50. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of SMPL. Dimensional Fund Advisors LP boosted its position in Simply Good Foods by 245.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 834,888 shares of the financial services provider’s stock worth $15,778,000 after purchasing an additional 593,243 shares in the last quarter. BlackRock Inc. boosted its position in Simply Good Foods by 9.3% during the fourth quarter. BlackRock Inc. now owns 4,310,881 shares of the financial services provider’s stock worth $81,477,000 after purchasing an additional 366,590 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Simply Good Foods by 29.3% during the first quarter. OppenheimerFunds Inc. now owns 1,144,342 shares of the financial services provider’s stock worth $23,563,000 after purchasing an additional 259,192 shares in the last quarter. 361 Capital LLC purchased a new position in Simply Good Foods during the first quarter worth approximately $2,814,000. Finally, Redwood Investments LLC boosted its position in Simply Good Foods by 19.0% during the first quarter. Redwood Investments LLC now owns 809,234 shares of the financial services provider’s stock worth $16,662,000 after purchasing an additional 129,194 shares in the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.
Simply Good Foods Company Profile
The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.
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