The Simply Good Foods Company (NASDAQ:SMPL) Stock Has Consensus Price Target of $13.36

Key Points

• Analysts lean cautious: Twelve firms give Simply Good Foods a consensus “Reduce” rating—nine hold, two sell and one buy—with an average 12-month price target of $13.36.
• The company reported quarterly EPS of $0.44, beating the $0.40 estimate, and revenue of $333.31 million, above expectations; however, revenue fell 9.7% year over year.
• Several analysts recently lowered their price targets, including UBS and TD Cowen, which each cut theirs to $11. Shares opened at $12.64, within a 52-week range of $9.38 to $22.00.

Shares of The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) have earned a consensus rating of "Reduce" from the twelve research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $13.36.

A number of research analysts recently issued reports on the company. UBS Group reduced their price target on Simply Good Foods from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Wednesday, October 28th. TD Cowen dropped their price objective on Simply Good Foods from $13.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, August 26th. DA Davidson set a $12.00 price objective on Simply Good Foods in a research report on Monday, October 26th. Truist Financial set a $11.00 target price on Simply Good Foods in a research note on Wednesday, August 26th. Finally, Zacks Research cut Simply Good Foods from a "hold" rating to a "strong sell" rating in a research note on Friday, October 30th.

Simply Good Foods Stock Up 1.8%

Shares of NASDAQ SMPL opened at $12.64 on Thursday. The firm's fifty day moving average is $10.68 and its 200 day moving average is $12.59. Simply Good Foods has a 52 week low of $9.38 and a 52 week high of $22.00. The company has a quick ratio of 3.87, a current ratio of 5.57 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -7.39 and a beta of 0.08.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. Simply Good Foods had a negative net margin of 11.49% and a positive return on equity of 9.36%. The business had revenue of $333.31 million during the quarter, compared to analysts' expectations of $327.03 million. During the same quarter in the prior year, the company posted $0.46 EPS. The firm's revenue for the quarter was down 9.7% compared to the same quarter last year. On average, equities research analysts expect that Simply Good Foods will post 1.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SMPL. Legal & General Group Plc purchased a new position in shares of Simply Good Foods during the second quarter valued at about $2,566,000. Oaktree Capital Management LP bought a new position in Simply Good Foods in the first quarter worth about $16,200,000. Bank of New York Mellon Corp bought a new position in Simply Good Foods in the second quarter worth about $7,393,000. Kestrel Investment Management Corp raised its stake in Simply Good Foods by 90.3% in the first quarter. Kestrel Investment Management Corp now owns 258,050 shares of the financial services provider's stock worth $3,703,000 after buying an additional 122,475 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC lifted its holdings in Simply Good Foods by 3,594.3% in the third quarter. Counterpoint Mutual Funds LLC now owns 978,657 shares of the financial services provider's stock worth $9,287,000 after buying an additional 952,166 shares during the period. 88.45% of the stock is owned by hedge funds and other institutional investors.

About Simply Good Foods

The Simply Good Foods Company develops, markets and sells branded foods and beverages focused on nutrition and convenient eating. Its portfolio includes protein bars, ready-to-drink shakes, snacks and other products, with brands such as Atkins, Quest and OWYN. Atkins offers products associated with low-carbohydrate eating, while Quest focuses on high-protein snacks and foods. OWYN adds plant-based protein shakes and related products to the company's portfolio. The company's history includes its 2017 acquisition of Atkins Nutritionals and its 2019 acquisition of Quest Nutrition.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.