Simply Good Foods (NASDAQ:SMPL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage currently has a $28.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.85% from the company’s previous close.
According to Zacks, “The Simply Good Foods Company product portfolio consists primarily of nutrition bars, ready-to-drink shakes, snacks and confectionery products marketed under the Atkins(R), SimplyProtein(R), Atkins Endulge(R) and Atkins Harvest Trail brand names. The Simply Good Foods Company is based in Denver, United States. “
Other equities analysts have also recently issued research reports about the company. ValuEngine cut Simply Good Foods from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Deutsche Bank began coverage on Simply Good Foods in a report on Wednesday, December 11th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $32.00 price objective on shares of Simply Good Foods in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $30.57.
SMPL traded up $0.23 during midday trading on Tuesday, reaching $24.38. 316,600 shares of the company were exchanged, compared to its average volume of 1,282,292. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.71 and a current ratio of 2.67. Simply Good Foods has a one year low of $18.75 and a one year high of $31.34. The stock has a market capitalization of $2.32 billion, a P/E ratio of 43.54 and a beta of 0.77. The stock’s 50-day simple moving average is $27.46 and its 200 day simple moving average is $27.08.
Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Thursday, January 9th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. Simply Good Foods had a return on equity of 5.64% and a net margin of 4.96%. The firm had revenue of $152.20 million for the quarter, compared to analysts’ expectations of $159.40 million. During the same quarter last year, the business earned $0.18 earnings per share. The company’s revenue was up 25.9% compared to the same quarter last year. On average, research analysts anticipate that Simply Good Foods will post 0.92 earnings per share for the current year.
In related news, Director Nomi Ghez purchased 21,275 shares of the stock in a transaction on Tuesday, January 14th. The shares were purchased at an average price of $23.27 per share, with a total value of $495,069.25. Following the transaction, the director now directly owns 110,350 shares of the company’s stock, valued at $2,567,844.50. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joseph Scalzo purchased 16,330 shares of the stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $24.42 per share, for a total transaction of $398,778.60. Following the transaction, the chief executive officer now directly owns 465,683 shares in the company, valued at $11,371,978.86. The disclosure for this purchase can be found here. In the last three months, insiders purchased 112,918 shares of company stock worth $2,741,204. 3.00% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Simply Good Foods during the 3rd quarter worth approximately $462,000. SG Americas Securities LLC increased its holdings in shares of Simply Good Foods by 81.8% during the 3rd quarter. SG Americas Securities LLC now owns 40,299 shares of the financial services provider’s stock worth $1,168,000 after acquiring an additional 18,128 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Simply Good Foods by 11.2% during the 3rd quarter. Rhumbline Advisers now owns 111,226 shares of the financial services provider’s stock worth $3,224,000 after acquiring an additional 11,179 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Simply Good Foods during the 3rd quarter worth approximately $2,969,000. Finally, Mackay Shields LLC acquired a new position in shares of Simply Good Foods during the 3rd quarter worth approximately $716,000. 73.06% of the stock is currently owned by hedge funds and other institutional investors.
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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