Simply Good Foods (NASDAQ:SMPL) Rating Increased to Buy at Zacks Investment Research

Simply Good Foods (NASDAQ:SMPL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, January 10th. The firm currently has a $16.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 14.70% from the stock’s previous close.

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. “

Several other equities research analysts have also weighed in on SMPL. Goldman Sachs Group initiated coverage on Simply Good Foods in a research report on Wednesday, October 4th. They set a “buy” rating and a $16.00 target price on the stock. Berenberg Bank initiated coverage on Simply Good Foods in a research report on Thursday, November 16th. They set a “buy” rating and a $15.00 price target on the stock.

Shares of Simply Good Foods (NASDAQ:SMPL) traded up $0.28 during midday trading on Wednesday, hitting $13.95. The stock had a trading volume of 422,100 shares, compared to its average volume of 348,750. The company has a current ratio of 4.20, a quick ratio of 3.31 and a debt-to-equity ratio of 0.31. Simply Good Foods has a 1-year low of $10.93 and a 1-year high of $16.01.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Tuesday, January 9th. The financial services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Simply Good Foods had a return on equity of 6.78% and a net margin of 9.59%. equities analysts forecast that Simply Good Foods will post 0.52 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Davidson Kempner Capital Management LP acquired a new position in Simply Good Foods during the third quarter worth approximately $8,483,000. Sii Investments Inc. WI acquired a new position in shares of Simply Good Foods in the third quarter valued at approximately $798,000. Impala Asset Management LLC acquired a new position in shares of Simply Good Foods in the third quarter valued at approximately $3,356,000. Highbridge Capital Management LLC acquired a new position in shares of Simply Good Foods in the third quarter valued at approximately $5,781,000. Finally, Nationwide Fund Advisors acquired a new position in shares of Simply Good Foods in the third quarter valued at approximately $488,000. 69.46% of the stock is currently owned by institutional investors.

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About Simply Good Foods

The Simply Good Foods Company is a holding company. The Company through its subsidiaries, is engaged in developing, marketing and selling of branded nutritional foods and snacking products. The Company offers a range of products such as nutrition bars, ready to drink (RTD) shakes, snacks and confectionery products.

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