Simply Good Foods (NASDAQ:SMPL) Upgraded by DA Davidson to Hold Rating

DA Davidson upgraded shares of Simply Good Foods (NASDAQ:SMPL) to a hold rating in a research note released on Monday morning,Zacks.com reports.

A number of other research firms have also recently commented on SMPL. Stephens reissued an “equal weight” rating and issued a $14.00 target price (down from $24.00) on shares of Simply Good Foods in a research note on Friday, April 10th. Morgan Stanley decreased their price objective on Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, April 10th. BTIG Research started coverage on Simply Good Foods in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Stifel Nicolaus decreased their price target on shares of Simply Good Foods from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, Sanford C. Bernstein cut shares of Simply Good Foods from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $17.00 to $12.00 in a research note on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.30.

Simply Good Foods Price Performance

Simply Good Foods stock traded up $0.42 during midday trading on Monday, hitting $13.38. 266,879 shares of the company’s stock were exchanged, compared to its average volume of 2,524,906. The company has a market cap of $1.21 billion, a P/E ratio of -11.24 and a beta of 0.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.87 and a current ratio of 5.06. The stock has a 50-day moving average price of $12.32 and a two-hundred day moving average price of $15.20. Simply Good Foods has a 52-week low of $10.21 and a 52-week high of $34.19.

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

Insider Transactions at Simply Good Foods

In other news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the director directly owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. This trade represents a 9.83% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James M. Kilts bought 80,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were purchased at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the transaction, the director owned 172,854 shares of the company’s stock, valued at $2,141,661.06. This represents a 86.16% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 8.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. River Road Asset Management LLC purchased a new position in Simply Good Foods during the 4th quarter valued at about $31,857,000. Marshall Wace LLP purchased a new stake in shares of Simply Good Foods in the third quarter valued at about $31,825,000. Oaktree Capital Management LP purchased a new stake in shares of Simply Good Foods in the first quarter valued at about $16,200,000. Millennium Management LLC grew its position in shares of Simply Good Foods by 482.7% in the third quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock valued at $30,932,000 after purchasing an additional 1,032,358 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Simply Good Foods by 179.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,472,753 shares of the financial services provider’s stock worth $21,134,000 after purchasing an additional 946,216 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

About Simply Good Foods

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.