UBS Group Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $12.00

Simply Good Foods (NASDAQ:SMPL) had its price objective reduced by UBS Group from $13.00 to $12.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 3.62% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Jefferies Financial Group raised shares of Simply Good Foods from a “hold” rating to a “buy” rating and reduced their target price for the company from $23.00 to $22.00 in a research report on Monday, March 16th. DA Davidson reissued a “neutral” rating and issued a $39.00 price target on shares of Simply Good Foods in a report on Friday, April 10th. Zacks Research downgraded shares of Simply Good Foods from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. TD Cowen lowered their price objective on shares of Simply Good Foods from $20.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, April 10th. Finally, Stifel Nicolaus decreased their target price on shares of Simply Good Foods from $32.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.55.

Simply Good Foods Stock Up 0.5%

Shares of SMPL traded up $0.06 on Tuesday, reaching $11.58. The company’s stock had a trading volume of 1,838,636 shares, compared to its average volume of 2,197,850. The company has a current ratio of 5.06, a quick ratio of 2.87 and a debt-to-equity ratio of 0.27. Simply Good Foods has a twelve month low of $10.21 and a twelve month high of $35.15. The stock has a market capitalization of $1.05 billion, a PE ratio of -9.80 and a beta of 0.21. The firm has a fifty day moving average of $12.64 and a 200-day moving average of $16.40.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, April 9th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $326.01 million during the quarter, compared to analyst estimates of $345.08 million. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. Equities analysts predict that Simply Good Foods will post 1.54 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Simply Good Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Simply Good Foods by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after buying an additional 538 shares in the last quarter. Leonteq Securities AG grew its holdings in shares of Simply Good Foods by 96.2% during the first quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,132 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Simply Good Foods by 82.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 807 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Simply Good Foods during the 3rd quarter valued at about $36,000. Finally, Parallel Advisors LLC boosted its position in shares of Simply Good Foods by 167.4% during the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,331 shares during the last quarter. Hedge funds and other institutional investors 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.