Simply Good Foods (NASDAQ:SMPL) Receives New Coverage from Analysts at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of Simply Good Foods (NASDAQ:SMPL) in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on SMPL. DA Davidson started coverage on Simply Good Foods in a research report on Wednesday, June 19th. They set a buy rating and a $27.00 price target on the stock. ValuEngine cut Simply Good Foods from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. Deutsche Bank raised their target price on Simply Good Foods from $25.00 to $28.00 and gave the stock a buy rating in a research report on Thursday, July 4th. SunTrust Banks reiterated a hold rating and set a $25.00 price objective on shares of Simply Good Foods in a report on Wednesday, July 3rd. Finally, Buckingham Research increased their price objective on Simply Good Foods from $25.00 to $29.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $27.00.

Shares of SMPL traded up $1.41 during midday trading on Monday, reaching $27.82. The company had a trading volume of 5,502 shares, compared to its average volume of 421,947. Simply Good Foods has a 1-year low of $16.55 and a 1-year high of $28.16. The company has a market capitalization of $2.16 billion, a PE ratio of 47.70 and a beta of 0.85. The business has a 50 day simple moving average of $26.52. 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 (NASDAQ:SMPL) last released its quarterly earnings results on Tuesday, July 2nd. The financial services provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Simply Good Foods had a return on equity of 6.81% and a net margin of 10.79%. The business had revenue of $139.50 million during the quarter, compared to analysts’ expectations of $120.85 million. During the same period in the prior year, the business posted $0.10 EPS. The company’s revenue was up 30.1% compared to the same quarter last year. On average, sell-side analysts predict that Simply Good Foods will post 0.69 EPS for the current year.

In other Simply Good Foods news, COO Hanno E. Holm sold 1,750 shares of Simply Good Foods stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $27.87, for a total transaction of $48,772.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Hanno E. Holm sold 15,983 shares of Simply Good Foods stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $26.88, for a total value of $429,623.04. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co raised its position in shares of Simply Good Foods by 8.1% in the second quarter. Diversified Trust Co now owns 10,664 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 800 shares during the period. Rhumbline Advisers boosted its stake 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 worth $1,847,000 after acquiring an additional 959 shares in the last quarter. Legal & General Group Plc boosted its stake 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 worth $207,000 after acquiring an additional 1,046 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Simply Good Foods by 6.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,289 shares of the financial services provider’s stock worth $416,000 after acquiring an additional 1,065 shares in the last quarter. Finally, Strs Ohio boosted its stake in shares of Simply Good Foods by 7.4% during the 2nd quarter. Strs Ohio now owns 17,400 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 1,200 shares in the last quarter. 85.73% of the stock is currently owned by 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.

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Analyst Recommendations for Simply Good Foods (NASDAQ:SMPL)

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