Zacks: Simply Good Foods Co (SMPL) Receives Consensus Recommendation of “Strong Buy” from Analysts

Shares of Simply Good Foods Co (NASDAQ:SMPL) have been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.

Analysts have set a 1 year consensus price target of $15.67 for the company and are predicting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also given Simply Good Foods an industry rank of 115 out of 265 based on the ratings given to related companies.

Several brokerages have recently commented on SMPL. Zacks Investment Research upgraded Simply Good Foods from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Wednesday, January 10th. Stifel Nicolaus began coverage on Simply Good Foods in a research report on Monday, January 22nd. They issued a “buy” rating and a $16.00 target price for the company. Goldman Sachs Group began coverage on Simply Good Foods in a research report on Wednesday, October 4th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Berenberg Bank began coverage on Simply Good Foods in a research report on Thursday, November 16th. They issued a “buy” rating and a $15.00 target price for the company.

Several institutional investors and hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in shares of Simply Good Foods in the 3rd quarter worth approximately $142,000. Schwab Charles Investment Management Inc. acquired a new position in Simply Good Foods during the 4th quarter valued at approximately $186,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Simply Good Foods during the 3rd quarter valued at approximately $223,000. Bank of New York Mellon Corp acquired a new position in Simply Good Foods during the 3rd quarter valued at approximately $371,000. Finally, Nationwide Fund Advisors acquired a new position in Simply Good Foods during the 3rd quarter valued at approximately $488,000. Institutional investors own 69.55% of the company’s stock.

Simply Good Foods (NASDAQ SMPL) traded down $0.16 during mid-day trading on Monday, reaching $14.04. The company’s stock had a trading volume of 102,444 shares, compared to its average volume of 379,792. The company has a current ratio of 4.20, a quick ratio of 3.31 and a debt-to-equity ratio of 0.31. Simply Good Foods has a 52 week low of $10.93 and a 52 week high of $16.01.

Simply Good Foods (NASDAQ:SMPL) last issued its 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). equities analysts forecast that Simply Good Foods will post 0.54 EPS for the current fiscal year.

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About Simply Good Foods

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.

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