Simply Good Foods (NASDAQ:SMPL) Stock Rating Upgraded by ValuEngine

Simply Good Foods (NASDAQ:SMPL) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Friday, June 21st, ValuEngine reports.

SMPL has been the subject of several other research reports. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. SunTrust Banks increased their price objective on Church & Dwight from $70.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Buckingham Research raised their price target on Simply Good Foods from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, DA Davidson initiated coverage on Nomad Foods in a report on Wednesday, June 19th. They set a “buy” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $27.00.

Shares of SMPL traded up $0.18 during mid-day trading on Friday, hitting $26.89. 419,752 shares of the company’s stock were exchanged, compared to its average volume of 807,781. The firm has a market capitalization of $2.19 billion, a P/E ratio of 46.36 and a beta of 0.84. Simply Good Foods has a 52 week low of $16.40 and a 52 week high of $27.99. The stock has a 50-day moving average of $24.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 7.57 and a current ratio of 8.63.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Tuesday, July 2nd. The financial services provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $139.50 million during the quarter, compared to analysts’ expectations of $120.85 million. Simply Good Foods had a net margin of 10.79% and a return on equity of 6.81%. The business’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. On average, equities research analysts anticipate that Simply Good Foods will post 0.69 EPS for the current year.

In other Simply Good Foods news, COO Hanno E. Holm sold 1,750 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $27.87, for a total transaction of $48,772.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SMPL. Rhumbline Advisers increased its position in shares of Simply Good Foods by 49.1% in the fourth quarter. Rhumbline Advisers now owns 88,764 shares of the financial services provider’s stock worth $1,678,000 after purchasing an additional 29,249 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Simply Good Foods in the fourth quarter worth $1,586,000. First Trust Advisors LP bought a new position in shares of Simply Good Foods in the fourth quarter worth $1,460,000. Acadian Asset Management LLC increased its position in shares of Simply Good Foods by 464.5% in the fourth quarter. Acadian Asset Management LLC now owns 410,991 shares of the financial services provider’s stock worth $7,766,000 after purchasing an additional 338,190 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Simply Good Foods by 63.0% in the fourth quarter. California Public Employees Retirement System now owns 51,512 shares of the financial services provider’s stock worth $974,000 after purchasing an additional 19,900 shares during the period. Institutional investors own 85.50% of the company’s stock.

About Simply Good Foods

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

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Analyst Recommendations for Simply Good Foods (NASDAQ:SMPL)

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