Simply Good Foods (NASDAQ:SMPL) Rating Lowered to Buy at ValuEngine

Simply Good Foods (NASDAQ:SMPL) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Thursday, ValuEngine reports.

Several other equities analysts have also commented on the company. DA Davidson initiated coverage on Simply Good Foods in a research report on Wednesday, June 19th. They set a “buy” rating and a $27.00 price objective on the stock. Deutsche Bank raised their target price on Simply Good Foods from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, July 4th. SunTrust Banks restated a “hold” rating and issued a $25.00 target price on shares of Simply Good Foods in a research note on Wednesday, July 3rd. Zacks Investment Research raised Simply Good Foods from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Tuesday, July 9th. Finally, Buckingham Research lifted their target price on Simply Good Foods from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.00.

Shares of SMPL stock traded down $0.17 during mid-day trading on Thursday, reaching $26.53. 333,013 shares of the stock traded hands, compared to its average volume of 486,445. The business has a fifty day moving average price of $26.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 7.57 and a current ratio of 8.63. The stock has a market capitalization of $2.17 billion, a P/E ratio of 45.74 and a beta of 0.84. Simply Good Foods has a 1-year low of $16.49 and a 1-year high of $28.16.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Tuesday, July 2nd. The financial services provider reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. Simply Good Foods had a return on equity of 6.81% and a net margin of 10.79%. The business had revenue of $139.50 million during the quarter, compared to the consensus estimate of $120.85 million. During the same period in the previous year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. Equities research analysts expect that Simply Good Foods will post 0.69 EPS for the current fiscal year.

In other news, COO Hanno E. Holm sold 15,983 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $26.88, for a total transaction of $429,623.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Hanno E. Holm sold 1,750 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $27.87, for a total value of $48,772.50. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantamental Technologies LLC bought a new position in shares of Simply Good Foods in the first quarter valued at approximately $30,000. Lavaca Capital LLC bought a new stake in Simply Good Foods during the first quarter worth approximately $88,000. NumerixS Investment Technologies Inc bought a new stake in Simply Good Foods during the first quarter worth approximately $92,000. Aperio Group LLC bought a new stake in Simply Good Foods during the second quarter worth approximately $102,000. Finally, Diversified Trust Co bought a new stake in Simply Good Foods during the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 85.45% 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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Analyst Recommendations for Simply Good Foods (NASDAQ:SMPL)

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