Simply Good Foods (NASDAQ:SMPL) Downgraded to “Hold” at ValuEngine

ValuEngine cut shares of Simply Good Foods (NASDAQ:SMPL) from a buy rating to a hold rating in a report released on Wednesday morning, ValuEngine reports.

A number of other research analysts also recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Simply Good Foods in a research note on Monday, August 12th. They set an outperform rating for the company. DA Davidson upped their price objective on shares of Simply Good Foods to $33.00 and gave the company a buy rating in a research note on Thursday, August 22nd. SunTrust Banks reaffirmed a hold rating and set a $25.00 price objective on shares of Simply Good Foods in a research note on Wednesday, July 3rd. Deutsche Bank upped their price objective on shares of Simply Good Foods from $25.00 to $28.00 and gave the company a buy rating in a research note on Thursday, July 4th. Finally, Buckingham Research upped their price objective on shares of Simply Good Foods from $25.00 to $29.00 and gave the company a buy rating in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $29.00.

Shares of NASDAQ SMPL traded down $0.06 on Wednesday, reaching $27.26. 585,992 shares of the company traded hands, compared to its average volume of 488,059. Simply Good Foods has a fifty-two week low of $16.55 and a fifty-two week high of $31.34. The company has a 50 day moving average of $28.92 and a 200 day moving average of $25.02. The company has a current ratio of 8.63, a quick ratio of 7.57 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $2.23 billion, a PE ratio of 47.00 and a beta of 0.79.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Tuesday, July 2nd. The financial services provider reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. Simply Good Foods had a net margin of 10.79% and a return on equity of 6.81%. The company had revenue of $139.50 million during the quarter, compared to the consensus estimate of $120.85 million. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. As a group, research analysts expect that Simply Good Foods will post 0.69 earnings per share for the current year.

In related news, COO Hanno E. Holm sold 1,750 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 Securities & Exchange Commission, which is available at the SEC website. Also, COO Hanno E. Holm sold 15,983 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $26.88, for a total transaction of $429,623.04. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Emerald Advisers LLC increased its position in Simply Good Foods by 13.8% during the 2nd quarter. Emerald Advisers LLC now owns 1,433,355 shares of the financial services provider’s stock worth $34,515,000 after purchasing an additional 174,110 shares in the last quarter. OppenheimerFunds Inc. grew its position in Simply Good Foods by 29.3% in the first quarter. OppenheimerFunds Inc. now owns 1,144,342 shares of the financial services provider’s stock valued at $23,563,000 after acquiring an additional 259,192 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Simply Good Foods in the second quarter valued at approximately $281,000. Redwood Investments LLC grew its position in Simply Good Foods by 2.7% in the second quarter. Redwood Investments LLC now owns 831,146 shares of the financial services provider’s stock valued at $20,014,000 after acquiring an additional 21,912 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Simply Good Foods by 245.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 834,888 shares of the financial services provider’s stock valued at $15,778,000 after acquiring an additional 593,243 shares in the last quarter. 85.86% of the stock is owned by hedge funds and other institutional investors.

Simply Good Foods Company Profile

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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