The Simply Good Foods Company (NASDAQ:SMPL) Receives $15.20 Consensus PT from Brokerages

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have received an average recommendation of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $15.20.

Several analysts recently weighed in on SMPL shares. Sanford C. Bernstein cut shares of Simply Good Foods from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $17.00 to $12.00 in a research note on Wednesday, June 3rd. Zacks Research raised Simply Good Foods from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $14.00 price target on shares of Simply Good Foods in a research note on Friday, July 10th. Mizuho set a $19.00 price objective on Simply Good Foods in a research note on Monday, May 4th. Finally, Stephens reiterated an “equal weight” rating and issued a $14.00 target price (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th.

Insider Activity

In other news, Director Clayton C. Daley, Jr. acquired 10,000 shares of Simply Good Foods stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $11.78 per share, with a total value of $117,800.00. Following the purchase, the director owned 111,743 shares in the company, valued at $1,316,332.54. This trade represents a 9.83% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.76% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Simply Good Foods by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock valued at $213,479,000 after acquiring an additional 249,405 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Simply Good Foods by 8.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,288,680 shares of the financial services provider’s stock worth $106,443,000 after acquiring an additional 346,395 shares in the last quarter. State Street Corp raised its position in shares of Simply Good Foods by 0.4% in the 2nd quarter. State Street Corp now owns 3,645,749 shares of the financial services provider’s stock worth $115,169,000 after acquiring an additional 14,089 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of Simply Good Foods by 10.0% in the 1st quarter. Boston Trust Walden Corp now owns 3,635,464 shares of the financial services provider’s stock valued at $52,169,000 after purchasing an additional 330,330 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in shares of Simply Good Foods by 28.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,124,640 shares of the financial services provider’s stock valued at $42,663,000 after purchasing an additional 469,903 shares during the period. Institutional investors own 88.45% of the company’s stock.

Simply Good Foods Stock Down 0.1%

Shares of NASDAQ SMPL opened at $11.17 on Tuesday. The company has a 50 day simple moving average of $11.99 and a 200 day simple moving average of $13.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10. Simply Good Foods has a 1 year low of $9.88 and a 1 year high of $30.36. The firm has a market cap of $988.10 million, a PE ratio of -5.15 and a beta of 0.15.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The firm had revenue of $356.98 million for the quarter, compared to analyst estimates of $332.99 million. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. On average, research analysts forecast that Simply Good Foods will post 1.54 EPS for the current year.

Simply Good Foods Company Profile

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.