UBS Group Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $16.00

Simply Good Foods (NASDAQ:SMPL) had its price objective cut by UBS Group from $23.00 to $16.00 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on SMPL. Mizuho set a $30.00 target price on Simply Good Foods in a report on Thursday, January 15th. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a report on Monday, December 29th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Jefferies Financial Group raised Simply Good Foods from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $23.00 to $22.00 in a report on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $22.00 target price on shares of Simply Good Foods in a research report on Monday, December 15th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.33.

Simply Good Foods Stock Performance

SMPL opened at $14.16 on Thursday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 15.73 and a beta of 0.33. The company has a fifty day moving average of $16.07 and a 200 day moving average of $19.43. Simply Good Foods has a fifty-two week low of $13.62 and a fifty-two week high of $38.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, January 8th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. Simply Good Foods had a net margin of 6.26% and a return on equity of 9.56%. The business had revenue of $340.20 million for the quarter, compared to analysts’ expectations of $337.64 million. During the same quarter in the previous year, the company earned $0.49 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in Simply Good Foods by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 538 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Simply Good Foods by 82.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 807 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Simply Good Foods in the 3rd quarter worth approximately $36,000. Parallel Advisors LLC increased its position in shares of Simply Good Foods by 167.4% during the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,331 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Simply Good Foods during the 4th quarter valued at $59,000. 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.