Simply Good Foods Co (NASDAQ:SMPL) Receives Consensus Recommendation of “Buy” from Brokerages

Simply Good Foods Co (NASDAQ:SMPL) has been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $27.00.

SMPL has been the subject of a number of research reports. Buckingham Research lifted their price target on shares of Simply Good Foods from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. SunTrust Banks reiterated a “hold” rating and set a $25.00 price target on shares of Simply Good Foods in a research report on Wednesday, July 3rd. Zacks Investment Research upgraded shares of Simply Good Foods from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Tuesday, July 9th. Deutsche Bank lifted their price target on shares of Simply Good Foods from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, July 4th. Finally, ValuEngine downgraded Simply Good Foods from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st.

In other Simply Good Foods news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its holdings in shares of Simply Good Foods by 63.0% in the 4th quarter. California Public Employees Retirement System now owns 51,512 shares of the financial services provider’s stock valued at $974,000 after acquiring an additional 19,900 shares during the period. BlackRock Inc. grew its stake in Simply Good Foods by 9.3% during the 4th quarter. BlackRock Inc. now owns 4,310,881 shares of the financial services provider’s stock worth $81,477,000 after buying an additional 366,590 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Simply Good Foods by 11.3% during the 4th quarter. Bank of New York Mellon Corp now owns 497,105 shares of the financial services provider’s stock worth $9,394,000 after buying an additional 50,599 shares during the last quarter. Northern Trust Corp grew its stake in Simply Good Foods by 9.0% during the 4th quarter. Northern Trust Corp now owns 774,922 shares of the financial services provider’s stock worth $14,646,000 after buying an additional 63,823 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in Simply Good Foods during the 4th quarter worth $245,000. 85.35% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:SMPL traded down $0.04 during mid-day trading on Tuesday, reaching $25.70. The stock had a trading volume of 514,200 shares, compared to its average volume of 442,755. The firm’s 50 day moving average price is $26.27. Simply Good Foods has a twelve month low of $16.51 and a twelve month high of $28.16. The company has a quick ratio of 7.57, a current ratio of 8.63 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 44.31 and a beta of 0.85.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Tuesday, July 2nd. The financial services provider reported $0.16 earnings per share (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 period last year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, equities research analysts forecast that Simply Good Foods will post 0.69 earnings per share for the current year.

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.

Recommended Story: Book Value Per Share in Stock Trading

Analyst Recommendations for Simply Good Foods (NASDAQ:SMPL)

Receive News & Ratings for Simply Good Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simply Good Foods and related companies with MarketBeat.com's FREE daily email newsletter.