Simply Good Foods (NASDAQ:SMPL) Announces Quarterly Earnings Results

Simply Good Foods (NASDAQ:SMPL) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02, Morningstar.com reports. Simply Good Foods had a return on equity of 6.34% and a net margin of 10.17%. The business had revenue of $139.50 million for the quarter, compared to analysts’ expectations of $120.85 million. During the same period last year, the business earned $0.10 EPS. The business’s revenue was up 30.1% on a year-over-year basis.

NASDAQ SMPL opened at $25.38 on Wednesday. The company has a market cap of $2.04 billion, a PE ratio of 43.76 and a beta of 0.84. Simply Good Foods has a one year low of $14.89 and a one year high of $26.00. The company has a quick ratio of 7.85, a current ratio of 9.17 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $22.99.

Several equities analysts have weighed in on SMPL shares. Buckingham Research raised their price objective on Simply Good Foods from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, April 5th. SunTrust Banks cut Simply Good Foods from a “buy” rating to a “hold” rating and dropped their price objective for the company from $25.00 to $23.00 in a research note on Tuesday, April 9th. They noted that the move was a valuation call. DA Davidson started coverage on Simply Good Foods in a research note on Wednesday, June 19th. They set a “buy” rating and a $27.00 price objective on the stock. Zacks Investment Research cut Simply Good Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, ValuEngine upgraded Simply Good Foods from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 21st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $24.80.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Simply Good Foods by 1.1% during the 4th quarter. FMR LLC now owns 7,254,306 shares of the financial services provider’s stock worth $137,106,000 after purchasing an additional 78,505 shares during the period. BlackRock Inc. raised its stake in Simply Good Foods by 9.3% in the 4th quarter. BlackRock Inc. now owns 4,310,881 shares of the financial services provider’s stock valued at $81,477,000 after acquiring an additional 366,590 shares during the period. Champlain Investment Partners LLC raised its stake in Simply Good Foods by 4.9% in the 1st quarter. Champlain Investment Partners LLC now owns 2,585,895 shares of the financial services provider’s stock valued at $53,244,000 after acquiring an additional 121,530 shares during the period. Victory Capital Management Inc. raised its stake in Simply Good Foods by 0.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,417,149 shares of the financial services provider’s stock valued at $29,179,000 after acquiring an additional 8,515 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in Simply Good Foods by 29.3% in the 1st quarter. OppenheimerFunds Inc. now owns 1,144,342 shares of the financial services provider’s stock valued at $23,563,000 after acquiring an additional 259,192 shares during the period. Institutional investors own 85.50% of the company’s stock.

About Simply Good Foods

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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Earnings History for Simply Good Foods (NASDAQ:SMPL)

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