Simply Good Foods (SMPL) Upgraded by Zacks Investment Research to Hold

Simply Good Foods (NASDAQ:SMPL) was upgraded by Zacks Investment Research from a “sell” 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. “

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Several other analysts also recently weighed in on the stock. SunTrust Banks initiated coverage on shares of Simply Good Foods in a report on Thursday, February 1st. They issued a “buy” rating and a $17.00 target price on the stock. Stifel Nicolaus initiated coverage on shares of Simply Good Foods in a report on Monday, January 22nd. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Deutsche Bank lowered their target price on shares of Simply Good Foods from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, April 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $15.83.

Shares of NASDAQ:SMPL opened at $13.14 on Friday. The company has a current ratio of 4.84, a quick ratio of 3.31 and a debt-to-equity ratio of 0.29. Simply Good Foods has a fifty-two week low of $10.93 and a fifty-two week high of $16.01.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Tuesday, April 10th. The financial services provider reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04). The firm had revenue of $109.35 million during the quarter, compared to analysts’ expectations of $108.74 million. Simply Good Foods had a net margin of 9.60% and a return on equity of 2.72%. research analysts predict that Simply Good Foods will post 0.53 earnings per share for the current fiscal year.

In related news, Director Robert G. Montgomery acquired 5,000 shares of Simply Good Foods stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $12.40 per share, for a total transaction of $62,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.62% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SMPL. Champlain Investment Partners LLC acquired a new stake in shares of Simply Good Foods in the fourth quarter valued at about $17,342,000. Goldman Sachs Group Inc. lifted its stake in shares of Simply Good Foods by 7.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,353,498 shares of the financial services provider’s stock valued at $76,341,000 after purchasing an additional 378,292 shares during the period. BlackRock Inc. lifted its stake in shares of Simply Good Foods by 212.6% in the fourth quarter. BlackRock Inc. now owns 409,703 shares of the financial services provider’s stock valued at $5,842,000 after purchasing an additional 278,630 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Simply Good Foods in the fourth quarter valued at about $1,628,000. Finally, Swiss National Bank acquired a new stake in shares of Simply Good Foods in the fourth quarter valued at about $1,286,000. Hedge funds and other institutional investors own 74.24% of the company’s stock.

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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. The company markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Endulge, and Atkins Harvest Trail brand names.

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