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

Zacks Investment Research upgraded shares of Simply Good Foods (NASDAQ:SMPL) from a sell rating to a hold rating in a report published on Wednesday.

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. “

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Other research analysts have also issued research reports about the company. SunTrust Banks initiated coverage on Simply Good Foods in a research report on Thursday, February 1st. They set a buy rating and a $17.00 price target for the company. Stifel Nicolaus initiated coverage on Simply Good Foods in a research report on Monday, January 22nd. They set a buy rating and a $16.00 price target for the company. Finally, Berenberg Bank initiated coverage on Simply Good Foods in a research report on Thursday, November 16th. They set a buy rating and a $15.00 price target for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Simply Good Foods currently has a consensus rating of Buy and a consensus target price of $16.00.

Simply Good Foods (NASDAQ SMPL) opened at $13.59 on Wednesday. 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 52-week low of $10.93 and a 52-week high of $16.01.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Tuesday, January 9th. The financial services provider reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $106.59 million during the quarter, compared to analyst estimates of $105.70 million. sell-side analysts anticipate that Simply Good Foods will post 0.54 earnings per share for the current fiscal year.

In other news, Director Robert G. Montgomery bought 5,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $12.40 per share, with a total value of $62,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.62% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Two Sigma Investments LP bought a new position in shares of Simply Good Foods in the 4th quarter worth approximately $1,628,000. Two Sigma Advisers LP bought a new position in shares of Simply Good Foods in the 4th quarter worth approximately $332,000. Goldman Sachs Group Inc. raised its position in shares of Simply Good Foods by 7.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,353,498 shares of the financial services provider’s stock worth $76,341,000 after acquiring an additional 378,292 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Simply Good Foods by 28.5% in the 4th quarter. Geode Capital Management LLC now owns 405,551 shares of the financial services provider’s stock worth $5,782,000 after acquiring an additional 89,894 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Simply Good Foods by 3.8% in the 4th quarter. Lazard Asset Management LLC now owns 874,733 shares of the financial services provider’s stock worth $12,473,000 after acquiring an additional 31,643 shares in the last quarter. 74.16% of the stock is owned by hedge funds and other institutional investors.

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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.

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