Zacks Investment Research upgraded shares of Simply Good Foods (NASDAQ:SMPL) from a hold rating to a buy rating in a research note published on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $29.00 price objective on the financial services provider’s stock.
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. “
A number of other brokerages have also issued reports on SMPL. Buckingham Research increased their price objective on shares of Simply Good Foods from $25.00 to $29.00 and gave the company a buy rating in a report on Wednesday, July 3rd. Wells Fargo & Co assumed coverage on shares of Simply Good Foods in a report on Monday, September 9th. They set an outperform rating and a $35.00 price objective for the company. ValuEngine lowered shares of Simply Good Foods from a buy rating to a hold rating in a report on Wednesday, October 2nd. SunTrust Banks reaffirmed a hold rating and set a $25.00 price objective on shares of Simply Good Foods in a report on Wednesday, July 3rd. Finally, Deutsche Bank increased their price objective on shares of Simply Good Foods from $25.00 to $28.00 and gave the company a buy rating in a report on Thursday, July 4th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $28.71.
SMPL traded down $1.45 during trading on Thursday, reaching $24.95. 1,181,926 shares of the company traded hands, compared to its average volume of 544,652. The company has a debt-to-equity ratio of 0.23, a quick ratio of 7.57 and a current ratio of 8.63. Simply Good Foods has a 12-month low of $16.55 and a 12-month high of $31.34. The firm has a fifty day simple moving average of $28.94 and a 200 day simple moving average of $25.26. The company has a market cap of $2.16 billion, a P/E ratio of 43.02 and a beta of 0.79.
In related news, COO Hanno E. Holm sold 15,983 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $26.88, for a total value of $429,623.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of SMPL. NumerixS Investment Technologies Inc purchased a new position in shares of Simply Good Foods in the first quarter valued at $92,000. Aperio Group LLC purchased a new position in shares of Simply Good Foods in the second quarter valued at $102,000. C M Bidwell & Associates Ltd. lifted its position in Simply Good Foods by 42.1% in the second quarter. C M Bidwell & Associates Ltd. now owns 5,675 shares of the financial services provider’s stock worth $137,000 after buying an additional 1,680 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Simply Good Foods in the second quarter worth $152,000. Finally, Diversified Trust Co bought a new stake in Simply Good Foods in the first quarter worth $203,000. 85.78% of the stock is owned by hedge funds and other institutional investors.
About Simply Good Foods
The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.
Read More: Hedge Funds – Risk or Reward?
Get a free copy of the Zacks research report on Simply Good Foods (SMPL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Simply Good Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simply Good Foods and related companies with MarketBeat.com's FREE daily email newsletter.