Simply Good Foods (NASDAQ:SMPL) Stock Rating Lowered by Zacks Research

Simply Good Foods (NASDAQ:SMPL) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on SMPL. Stephens reissued 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. UBS Group dropped their target price on Simply Good Foods from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday. TD Cowen dropped their target price on Simply Good Foods from $20.00 to $13.00 and set a “hold” rating for the company in a report on Friday, April 10th. Mizuho set a $30.00 target price on Simply Good Foods in a report on Thursday, January 15th. Finally, BTIG Research began coverage on Simply Good Foods in a report on Monday. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.64.

Simply Good Foods Stock Performance

Simply Good Foods stock traded down $0.02 during trading hours on Monday, hitting $11.38. The stock had a trading volume of 455,180 shares, compared to its average volume of 2,609,864. The company has a 50-day moving average of $15.19 and a two-hundred day moving average of $18.73. The company has a quick ratio of 2.87, a current ratio of 5.06 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.03 billion, a PE ratio of -9.56 and a beta of 0.33. Simply Good Foods has a fifty-two week low of $10.21 and a fifty-two week high of $38.03.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $326.01 million during the quarter, compared to analysts’ expectations of $345.08 million. Simply Good Foods had a positive return on equity of 9.72% and a negative net margin of 7.46%.The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 EPS. On average, equities research analysts anticipate that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Simply Good Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its holdings in Simply Good Foods by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 88,477 shares of the financial services provider’s stock valued at $2,795,000 after purchasing an additional 383 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in Simply Good Foods by 6.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 8,843 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 510 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Simply Good Foods by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 538 shares in the last quarter. AQR Capital Management LLC increased its holdings in Simply Good Foods by 3.4% during the 1st quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider’s stock valued at $656,000 after purchasing an additional 617 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Simply Good Foods by 4.1% during the 4th quarter. Cerity Partners LLC now owns 18,000 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 701 shares in the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

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.