Simply Good Foods (SMPL) Lowered to Hold at Zacks Investment Research

Simply Good Foods (NASDAQ:SMPL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

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. “

SMPL has been the subject of a number of other reports. Berenberg Bank assumed coverage on Simply Good Foods in a report on Thursday, November 16th. They issued a “buy” rating and a $15.00 target price for the company. Goldman Sachs Group assumed coverage on Simply Good Foods in a research report on Wednesday, October 4th. They set a “buy” rating and a $16.00 price target on the stock.

Simply Good Foods (NASDAQ SMPL) traded up $0.10 during trading on Friday, reaching $14.15. The company’s stock had a trading volume of 405,828 shares, compared to its average volume of 248,844. The company has a quick ratio of 3.31, a current ratio of 4.20 and a debt-to-equity ratio of 0.31. Simply Good Foods has a 12-month low of $10.30 and a 12-month high of $16.01.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Tuesday, January 9th. The financial services provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). analysts expect that Simply Good Foods will post 0.52 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Davidson Kempner Capital Management LP bought a new stake in Simply Good Foods during the 3rd quarter worth approximately $8,483,000. Highbridge Capital Management LLC bought a new position in Simply Good Foods in the 3rd quarter valued at $5,781,000. Impala Asset Management LLC bought a new position in Simply Good Foods in the 3rd quarter valued at $3,356,000. Sii Investments Inc. WI bought a new position in Simply Good Foods in the 3rd quarter valued at $798,000. Finally, Acadian Asset Management LLC bought a new position in Simply Good Foods in the 4th quarter valued at $752,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

WARNING: This piece was posted by American Banking News and is the property of of American Banking News. If you are reading this piece on another website, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2018/01/20/simply-good-foods-smpl-lowered-to-hold-at-zacks-investment-research.html.

Simply Good Foods Company Profile

The Simply Good Foods Company is a holding company. The Company through its subsidiaries, is engaged in developing, marketing and selling of branded nutritional foods and snacking products. The Company offers a range of products such as nutrition bars, ready to drink (RTD) shakes, snacks and confectionery products.

Get a free copy of the Zacks research report on Simply Good Foods (SMPL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Leave a Reply