Simply Good Foods (NASDAQ:SMPL) Shares Up 9% – Time to Buy?

The Simply Good Foods Company (NASDAQ:SMPL – Get Free Report) traded up 9% on Monday. The company traded as high as $12.31 and last traded at $12.2650. Approximately 553,081 shares were traded during trading, a decline of 77% from the average session volume of 2,452,521 shares. The stock had previously closed at $11.25.

Analyst Upgrades and Downgrades

SMPL has been the topic of several recent analyst reports. Weiss Ratings lowered Simply Good Foods from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, October 28th. Truist Financial set a $11.00 price objective on Simply Good Foods in a research note on Wednesday, August 26th. DA Davidson set a $12.00 target price on shares of Simply Good Foods in a research note on Monday, October 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $14.00 target price on shares of Simply Good Foods in a report on Friday, July 10th. Finally, TD Cowen dropped their target price on shares of Simply Good Foods from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Simply Good Foods presently has a consensus rating of “Hold” and an average target price of $13.36.

View Our Latest Report on SMPL

Simply Good Foods Trading Up 6.6%

The company has a market cap of $1.15 billion, a P/E ratio of -7.77 and a beta of 0.08. The business has a 50-day moving average price of $10.48 and a two-hundred day moving average price of $12.84. The company has a quick ratio of 3.87, a current ratio of 5.57 and a debt-to-equity ratio of 0.24.

Simply Good Foods (NASDAQ:SMPL – Get Free Report) last announced its earnings results on Tuesday, October 27th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Simply Good Foods had a negative net margin of 11.49% and a positive return on equity of 9.36%. The firm had revenue of $333.31 million during the quarter, compared to analyst estimates of $327.03 million. During the same period in the prior year, the business earned $0.46 EPS. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, analysts predict that The Simply Good Foods Company will post 1.34 EPS for the current year.

Institutional Investors Weigh In On Simply Good Foods

A number of institutional investors have recently modified their holdings of the company. Illinois Municipal Retirement Fund boosted its stake in Simply Good Foods by 2.0% during the first quarter. Illinois Municipal Retirement Fund now owns 53,688 shares of the financial services provider’s stock valued at $770,000 after buying an additional 1,047 shares during the period. Leonteq Securities AG lifted its stake in Simply Good Foods by 96.2% in the first quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,132 shares during the period. Hsbc Holdings PLC raised its position in shares of Simply Good Foods by 4.1% in the 1st quarter. Hsbc Holdings PLC now owns 30,788 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 1,221 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Simply Good Foods by 47.4% during the third quarter. Parallel Advisors LLC now owns 4,266 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 1,372 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Simply Good Foods by 244.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,995 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 2,125 shares in the last quarter. 88.45% of the stock is owned by institutional investors.

About Simply Good Foods

(Get Free Report)

The Simply Good Foods Company (NASDAQ: SMPL) is a consumer packaged food company focused on convenient, nutrition-focused products. Its portfolio is built around the Atkins and Quest brands, which serve consumers seeking lower-carbohydrate, higher-protein and better-for-you food options.

The company offers a variety of products, including protein bars, snack bars, shakes, cookies, chips, confectionery items, protein powders and frozen foods. Its products are sold through grocery stores, mass merchants, club stores, drugstores, convenience stores, e-commerce platforms and other retail channels.

Simply Good Foods was established in 2017 through the combination of Conyers Park Acquisition Corp.

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