The Simply Good Foods Company (NASDAQ:SMPL) Receives Average Rating of “Hold” from Analysts

The Simply Good Foods Company (NASDAQ:SMPL) has been given an average recommendation of “Hold” by the thirteen brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $15.20.

A number of brokerages have recently weighed in on SMPL. TD Cowen reaffirmed a “hold” rating on shares of Simply Good Foods in a report on Friday, July 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Simply Good Foods in a research note on Thursday, June 18th. Sanford C. Bernstein downgraded shares of Simply Good Foods from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $17.00 to $12.00 in a research report on Wednesday, June 3rd. Mizuho set a $19.00 target price on Simply Good Foods in a research note on Monday, May 4th. Finally, BTIG Research assumed coverage on Simply Good Foods in a report on Monday, April 13th. They issued a “neutral” rating on the stock.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $11.78 per share, for a total transaction of $117,800.00. Following the transaction, the director directly owned 111,743 shares in the company, valued at $1,316,332.54. This represents a 9.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in shares of Simply Good Foods by 9.0% in the 1st quarter. Royal Bank of Canada now owns 71,023 shares of the financial services provider’s stock valued at $2,448,000 after purchasing an additional 5,893 shares in the last quarter. AQR Capital Management LLC increased its position in Simply Good Foods by 3.4% during the 1st quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 617 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Simply Good Foods by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,819 shares of the financial services provider’s stock worth $1,891,000 after purchasing an additional 2,850 shares in the last quarter. Caxton Associates LLP bought a new position in Simply Good Foods in the 1st quarter valued at approximately $264,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Simply Good Foods by 10.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,229 shares of the financial services provider’s stock valued at $7,734,000 after purchasing an additional 21,696 shares during the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

Simply Good Foods Stock Down 2.6%

SMPL stock opened at $10.81 on Tuesday. Simply Good Foods has a 52 week low of $9.88 and a 52 week high of $30.36. The business has a 50-day simple moving average of $11.97 and a 200 day simple moving average of $13.66. 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 company has a market cap of $956.25 million, a PE ratio of -4.98 and a beta of 0.15.

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

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.