Simply Good Foods (NASDAQ:SMPL) Posts Earnings Results, Beats Expectations By $0.01 EPS

Simply Good Foods (NASDAQ:SMPL) issued its quarterly earnings data on Thursday. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01, RTT News reports. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The business had revenue of $380,956 billion for the quarter, compared to analyst estimates of $381.68 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis.

Simply Good Foods Stock Performance

Shares of SMPL opened at $32.89 on Friday. The firm has a 50-day moving average of $33.79 and a 200-day moving average of $35.39. Simply Good Foods has a one year low of $30.47 and a one year high of $40.53. The company has a market cap of $3.32 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 2.95 and a beta of 0.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.95 and a quick ratio of 2.70.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SMPL shares. UBS Group set a $36.00 target price on shares of Simply Good Foods and gave the company a “neutral” rating in a research report on Tuesday, July 1st. Morgan Stanley raised their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, April 10th. Stifel Nicolaus decreased their target price on shares of Simply Good Foods from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, June 27th. Wall Street Zen downgraded shares of Simply Good Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Mizuho raised their target price on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, April 11th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio bought a new position in shares of Simply Good Foods in the 1st quarter valued at about $114,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Simply Good Foods by 10.7% during 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 worth $7,734,000 after buying an additional 21,696 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Simply Good Foods during the 1st quarter worth about $264,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 buying an additional 2,850 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Simply Good Foods by 3.4% in 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. Institutional investors own 88.45% of the company’s stock.

About Simply Good Foods

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.