Simply Good Foods (NASDAQ:SMPL) Rating Lowered to “Hold” at Zacks Research

Simply Good Foods (NASDAQ:SMPL) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $22.00 price target on shares of Simply Good Foods in a report on Monday, December 15th. UBS Group reaffirmed a “neutral” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Simply Good Foods in a report on Friday, January 9th. Mizuho set a $30.00 target price on Simply Good Foods in a research note on Thursday, January 15th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.67.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $14.83 on Tuesday. The firm has a market cap of $1.37 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.95 and a beta of 0.26. Simply Good Foods has a fifty-two week low of $14.57 and a fifty-two week high of $38.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01. The business has a 50 day moving average price of $18.14 and a 200-day moving average price of $21.07.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Thursday, January 8th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $340.20 million for the quarter, compared to analysts’ expectations of $337.64 million. During the same quarter last year, the business earned $0.49 earnings per share. The business’s revenue was down .3% on a year-over-year basis. Equities research analysts predict that Simply Good Foods will post 1.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SMPL. EverSource Wealth Advisors LLC lifted its position in shares of 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 worth $31,000 after purchasing an additional 538 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Simply Good Foods during the third quarter valued at about $36,000. Hantz Financial Services Inc. increased its position in shares of Simply Good Foods by 82.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock valued at $36,000 after buying an additional 807 shares during the period. Parallel Advisors LLC raised its stake in Simply Good Foods by 167.4% in the fourth quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,331 shares in the last quarter. Finally, CWM LLC raised its stake in Simply Good Foods by 343.0% in the third quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock worth $65,000 after buying an additional 2,017 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

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.