Simply Good Foods (NASDAQ:SMPL) Announces Quarterly Earnings Results

Simply Good Foods (NASDAQ:SMPL) posted its quarterly earnings data on Thursday. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02, Briefing.com reports. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The business had revenue of $334.80 million for the quarter, compared to analysts’ expectations of $337.66 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. Simply Good Foods updated its FY 2024 guidance to EPS.

Simply Good Foods Stock Up 1.2 %

SMPL stock traded up $0.44 on Friday, reaching $36.13. 1,687,447 shares of the company traded hands, compared to its average volume of 695,687. The firm has a fifty day simple moving average of $36.71 and a 200-day simple moving average of $36.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 3.09. Simply Good Foods has a one year low of $30.00 and a one year high of $43.00. The company has a market cap of $3.61 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 2.12 and a beta of 0.65.

Wall Street Analyst Weigh In

Several analysts have issued reports on SMPL shares. Morgan Stanley restated an “overweight” rating and issued a $42.00 target price on shares of Simply Good Foods in a research note on Thursday, April 11th. TD Cowen initiated coverage on Simply Good Foods in a research note on Monday, April 22nd. They set a “hold” rating and a $34.00 price objective on the stock. Mizuho reiterated a “buy” rating and set a $50.00 price objective on shares of Simply Good Foods in a research note on Friday, April 5th. Stifel Nicolaus boosted their price objective on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 price objective on shares of Simply Good Foods in a research note on Friday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.86.

Insider Buying and Selling at Simply Good Foods

In other news, Director James D. White sold 4,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $152,680.00. Following the transaction, the director now directly owns 17,027 shares in the company, valued at approximately $649,920.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 10.98% of the company’s stock.

Simply Good Foods Company Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.