Simply Good Foods (NASDAQ:SMPL) Posts Earnings Results, Beats Estimates By $0.07 EPS

Simply Good Foods (NASDAQ:SMPL) issued its quarterly earnings data on Thursday. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07, FiscalAI reports. Simply Good Foods had a positive return on equity of 9.72% and a negative net margin of 7.46%.The business had revenue of $356.98 million for the quarter, compared to the consensus estimate of $332.99 million.

Simply Good Foods Stock Performance

Shares of NASDAQ SMPL opened at $12.84 on Thursday. Simply Good Foods has a 12 month low of $10.21 and a 12 month high of $34.19. The company has a market cap of $1.16 billion, a P/E ratio of -10.79 and a beta of 0.13. The business’s 50 day moving average is $12.31 and its two-hundred day moving average is $15.11. The company has a quick ratio of 2.87, a current ratio of 5.06 and a debt-to-equity ratio of 0.27.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley decreased their target price on Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a research note on Thursday, June 18th. Jefferies Financial Group set a $17.00 price objective on shares of Simply Good Foods in a report on Tuesday, June 30th. DA Davidson upgraded shares of Simply Good Foods to a “hold” rating in a research note on Monday. Finally, Stephens reiterated an “equal weight” rating and issued a $14.00 target price (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned 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 price target of $17.30.

Insider Activity at Simply Good Foods

In related news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the purchase, the director owned 111,743 shares in the company, valued at approximately $1,316,332.54. The trade was a 9.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James M. Kilts bought 80,000 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were bought at an average cost of $12.39 per share, for a total transaction of $991,200.00. Following the transaction, the director directly owned 172,854 shares of the company’s stock, valued at $2,141,661.06. This trade represents a 86.16% increase in their position. The disclosure for this purchase is available in the SEC filing. 8.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SMPL. EverSource Wealth Advisors LLC lifted its stake in shares of Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after buying an additional 538 shares during the period. Johnson Financial Group Inc. acquired a new position in Simply Good Foods in the 3rd quarter valued at approximately $36,000. Parallel Advisors LLC lifted its position in shares of Simply Good Foods by 167.4% in the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,331 shares during the period. State of Wyoming acquired a new stake in shares of Simply Good Foods during the 2nd quarter worth approximately $87,000. Finally, Empowered Funds LLC bought a new stake in shares of Simply Good Foods during the fourth quarter valued at approximately $59,000. 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 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.