Simply Good Foods (NASDAQ:SMPL) Trading Up 9.2% – Here’s What Happened

The Simply Good Foods Company (NASDAQ:SMPL)’s share price shot up 9.2% during mid-day trading on Monday . The company traded as high as $10.97 and last traded at $11.1130. 357,376 shares changed hands during trading, a decline of 86% from the average session volume of 2,570,548 shares. The stock had previously closed at $10.18.

Analyst Upgrades and Downgrades

SMPL has been the topic of several research analyst reports. Mizuho set a $19.00 target price on Simply Good Foods in a research report on Monday, May 4th. Zacks Research upgraded shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Sanford C. Bernstein lowered Simply Good Foods from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $17.00 to $12.00 in a research note on Wednesday, June 3rd. UBS Group set a $15.00 price target on shares of Simply Good Foods in a report on Friday, July 10th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a research note on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Simply Good Foods currently has an average rating of “Hold” and a consensus price target of $15.20.

Simply Good Foods Stock Up 0.1%

The firm has a market capitalization of $1.00 billion, a P/E ratio of -5.22 and a beta of 0.15. The firm’s fifty day moving average price is $12.01 and its 200-day moving average price is $13.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, July 9th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%.The company had revenue of $356.98 million for the quarter, compared to the consensus estimate of $332.99 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Insider Transactions at Simply Good Foods

In related news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $11.78 per share, with a total value of $117,800.00. Following the completion of the acquisition, the director owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. This represents a 9.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.76% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Simply Good Foods by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock valued at $213,479,000 after purchasing an additional 249,405 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Simply Good Foods during the 4th quarter valued at $6,499,000. New Age Alpha Advisors LLC raised its holdings in shares of Simply Good Foods by 2,413.6% during the fourth quarter. New Age Alpha Advisors LLC now owns 173,414 shares of the financial services provider’s stock worth $3,482,000 after acquiring an additional 166,515 shares in the last quarter. Tudor Investment Corp ET AL increased its position in Simply Good Foods by 468.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 208,385 shares of the financial services provider’s stock worth $5,172,000 after purchasing an additional 171,745 shares during the last quarter. Finally, Oaktree Capital Management LP bought a new stake in shares of Simply Good Foods in the 1st quarter valued at approximately $16,200,000. 88.45% of the stock is currently 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.