Zacks Investment Research downgraded shares of Simply Good Foods (NASDAQ:SMPL) from a buy rating to a hold rating in a research note published on Tuesday, January 30th.
According to Zacks, “The Simply Good Foods Company product portfolio consists primarily of nutrition bars, ready-to-drink shakes, snacks and confectionery products marketed under the Atkins(R), SimplyProtein(R), Atkins Endulge(R) and Atkins Harvest Trail brand names. The Simply Good Foods Company is based in Denver, United States. “
Several other analysts also recently issued reports on the stock. Goldman Sachs Group initiated coverage on shares of Simply Good Foods in a report on Wednesday, October 4th. They issued a buy rating and a $16.00 price target on the stock. Berenberg Bank initiated coverage on shares of Simply Good Foods in a report on Thursday, November 16th. They issued a buy rating and a $15.00 price target on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Simply Good Foods in a report on Monday, January 22nd. They issued a buy rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $16.00.
Shares of Simply Good Foods (NASDAQ SMPL) opened at $13.02 on Tuesday. Simply Good Foods has a fifty-two week low of $10.93 and a fifty-two week high of $16.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.20 and a quick ratio of 3.31.
Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Tuesday, January 9th. The financial services provider reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $106.59 million for the quarter, compared to analysts’ expectations of $105.70 million. research analysts expect that Simply Good Foods will post 0.54 earnings per share for the current year.
In other news, Director Robert G. Montgomery acquired 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $12.40 per share, with a total value of $62,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.23% of the company’s stock.
A number of hedge funds have recently modified their holdings of SMPL. Cubist Systematic Strategies LLC acquired a new position in Simply Good Foods during the third quarter worth approximately $142,000. Monashee Investment Management LLC acquired a new position in Simply Good Foods during the fourth quarter worth approximately $172,000. Schwab Charles Investment Management Inc. acquired a new position in Simply Good Foods during the fourth quarter worth approximately $186,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Simply Good Foods during the third quarter worth approximately $223,000. Finally, Teton Advisors Inc. acquired a new position in Simply Good Foods during the fourth quarter worth approximately $228,000. 70.70% of the stock is owned by hedge funds and other institutional investors.
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About Simply Good Foods
The Simply Good Foods Company is a holding company. The Company through its subsidiaries, is engaged in developing, marketing and selling of branded nutritional foods and snacking products. The Company offers a range of products such as nutrition bars, ready to drink (RTD) shakes, snacks and confectionery products.
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