Simply Good Foods (NASDAQ:SMPL) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Simply Good Foods (NASDAQ:SMPL) from a buy rating to a hold rating in a research report report published on Saturday morning.

SMPL has been the subject of a number of other reports. Mizuho boosted their price target on Simply Good Foods from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, April 11th. UBS Group began coverage on Simply Good Foods in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $41.00 price target for the company. DA Davidson decreased their price target on Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, June 9th. Morgan Stanley boosted their price target on Simply Good Foods from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, April 10th. Finally, Citigroup decreased their price target on Simply Good Foods from $43.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.86.

Simply Good Foods Trading Down 1.5%

Simply Good Foods stock opened at $32.29 on Friday. The company has a quick ratio of 2.70, a current ratio of 4.27 and a debt-to-equity ratio of 0.16. Simply Good Foods has a 52 week low of $31.25 and a 52 week high of $40.53. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.71 and a beta of 0.72. The stock has a 50-day moving average price of $35.07 and a 200 day moving average price of $36.10.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. Simply Good Foods had a return on equity of 10.39% and a net margin of 10.31%. The firm had revenue of $359.70 million during the quarter, compared to the consensus estimate of $354.50 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue was up 15.2% compared to the same quarter last year. Sell-side analysts anticipate that Simply Good Foods will post 1.78 EPS for the current year.

Insider Transactions at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $37.25, for a total transaction of $186,250.00. Following the completion of the transaction, the senior vice president now directly owns 12,839 shares of the company’s stock, valued at $478,252.75. This represents a 28.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 9.35% of the company’s stock.

Institutional Trading of Simply Good Foods

Large investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC increased its position in shares of Simply Good Foods by 72.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 445 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Simply Good Foods during the first quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Simply Good Foods during the first quarter worth approximately $55,000. Smartleaf Asset Management LLC increased its position in shares of Simply Good Foods by 255.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,229 shares in the last quarter. Finally, Quarry LP increased its position in shares of Simply Good Foods by 59.7% during the first quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 751 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

About Simply Good Foods

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.