Simply Good Foods (NASDAQ:SMPL) Announces Quarterly Earnings Results

Simply Good Foods (NASDAQ:SMPL) released its quarterly earnings results on Thursday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05, Briefing.com reports. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was down 9.4% on a year-over-year basis.

Simply Good Foods Trading Down 0.3%

Simply Good Foods stock opened at $14.41 on Thursday. The firm has a 50 day moving average of $15.75 and a 200 day moving average of $19.18. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 16.01 and a beta of 0.33. Simply Good Foods has a 12-month low of $13.62 and a 12-month high of $38.15. The company has a current ratio of 5.01, a quick ratio of 3.24 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On Simply Good Foods

A number of hedge funds have recently modified their holdings of SMPL. Marshall Wace LLP purchased a new stake in shares of Simply Good Foods in the third quarter worth $31,825,000. Millennium Management LLC lifted its stake in shares of Simply Good Foods by 482.7% during the 3rd quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock valued at $30,932,000 after buying an additional 1,032,358 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in Simply Good Foods by 781.1% in the 3rd quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock worth $22,397,000 after buying an additional 799,983 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Simply Good Foods by 119.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,313,726 shares of the financial services provider’s stock worth $32,607,000 after buying an additional 715,110 shares during the period. Finally, Shapiro Capital Management LLC purchased a new stake in Simply Good Foods in the 3rd quarter worth $17,175,000. 88.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SMPL shares. Weiss Ratings reissued a “sell (d)” rating on shares of Simply Good Foods in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $22.00 target price on shares of Simply Good Foods in a report on Monday, December 15th. Mizuho set a $30.00 price target on shares of Simply Good Foods in a research note on Thursday, January 15th. Jefferies Financial Group raised shares of Simply Good Foods from a “hold” rating to a “buy” rating and cut their price objective for the company from $23.00 to $22.00 in a research report on Monday, March 16th. Finally, Zacks Research lowered Simply Good Foods from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Simply Good Foods currently has a consensus rating of “Hold” and an average price target of $28.33.

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.