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

Zacks Research cut shares of Simply Good Foods (NASDAQ:SMPL) from a strong-buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other brokerages have also commented on SMPL. UBS Group reaffirmed a “neutral” rating on shares of Simply Good Foods in a research report on Friday, January 9th. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued 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. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.67.

Simply Good Foods Stock Down 1.2%

Simply Good Foods stock opened at $14.83 on Tuesday. The company has a quick ratio of 3.24, a current ratio of 5.01 and a debt-to-equity ratio of 0.23. Simply Good Foods has a 12-month low of $14.57 and a 12-month high of $38.15. The firm’s fifty day moving average is $18.14 and its 200 day moving average is $21.07. The company has a market capitalization of $1.37 billion, a PE ratio of 16.48, a PEG ratio of 1.95 and a beta of 0.26.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, January 8th. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $337.64 million. During the same period last year, the company posted $0.49 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts predict that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SMPL. EverSource Wealth Advisors LLC raised its position in Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after buying an additional 538 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Simply Good Foods during the 3rd quarter worth $36,000. Hantz Financial Services Inc. grew its stake 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 acquiring an additional 807 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Simply Good Foods by 167.4% in the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,331 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Simply Good Foods by 343.0% in the third quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 2,017 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

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.