Simply Good Foods (NASDAQ:SMPL) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Simply Good Foods (NASDAQ:SMPL) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has $27.00 price target 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. “

Several other analysts have also recently commented on SMPL. SunTrust Banks cut shares of Simply Good Foods from a buy rating to a hold rating and decreased their price target for the stock from $25.00 to $23.00 in a research note on Tuesday, April 9th. They noted that the move was a valuation call. Buckingham Research boosted their price target on shares of Simply Good Foods from $23.00 to $25.00 and gave the stock a buy rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Simply Good Foods presently has an average rating of Buy and a consensus target price of $24.25.



Shares of Simply Good Foods stock opened at $23.34 on Tuesday. The firm has a market capitalization of $1.94 billion, a P/E ratio of 40.24 and a beta of 0.77. The company has a quick ratio of 7.85, a current ratio of 9.17 and a debt-to-equity ratio of 0.23. Simply Good Foods has a fifty-two week low of $13.03 and a fifty-two week high of $24.46.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, April 4th. The financial services provider reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $123.80 million for the quarter, compared to analysts’ expectations of $121.91 million. Simply Good Foods had a net margin of 10.17% and a return on equity of 6.34%. The business’s revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts forecast that Simply Good Foods will post 0.64 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SEI Investments Co raised its position in shares of Simply Good Foods by 20.4% during the 1st quarter. SEI Investments Co now owns 3,895 shares of the financial services provider’s stock valued at $81,000 after buying an additional 660 shares in the last quarter. US Bancorp DE raised its position in shares of Simply Good Foods by 82.1% during the 1st quarter. US Bancorp DE now owns 1,845 shares of the financial services provider’s stock valued at $38,000 after buying an additional 832 shares in the last quarter. Rhumbline Advisers raised its position in shares of Simply Good Foods by 1.1% during the 1st quarter. Rhumbline Advisers now owns 89,723 shares of the financial services provider’s stock valued at $1,847,000 after buying an additional 959 shares in the last quarter. Legal & General Group Plc raised its position in shares of Simply Good Foods by 10.6% during the 4th quarter. Legal & General Group Plc now owns 10,953 shares of the financial services provider’s stock valued at $207,000 after buying an additional 1,046 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. raised its position in shares of Simply Good Foods by 48.2% during the 1st quarter. C M Bidwell & Associates Ltd. now owns 3,995 shares of the financial services provider’s stock valued at $82,000 after buying an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

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.

Further Reading: Cost of Equity For A Business, Investors

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