The Simply Good Foods Company (NASDAQ:SMPL) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Wall Street’s consensus rating is “Hold”: Of 13 analysts covering Simply Good Foods, nine recommend holding the stock, three recommend buying, and one recommends selling. The average 12-month price target is $14.45.
• Analysts have recently issued or revised targets ranging from $11 to $15, including DA Davidson’s sharp reduction from $39 to $14 and a neutral rating.
• Shares opened at $11.19, near the lower end of their 12-month range of $9.38 to $25.66. Institutional investors and hedge funds own approximately 88.45% of the company.

Shares of The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) have earned an average recommendation of "Hold" from the thirteen analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $14.45.

A number of equities research analysts have weighed in on the company. UBS Group set a $15.00 price objective on Simply Good Foods in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $14.00 target price on shares of Simply Good Foods in a report on Friday, July 10th. Truist Financial set a $11.00 target price on Simply Good Foods in a research report on Wednesday, August 26th. Weiss Ratings downgraded Simply Good Foods from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, October 12th. Finally, DA Davidson decreased their price target on Simply Good Foods from $39.00 to $14.00 and set a "neutral" rating on the stock in a research note on Friday, July 10th.

Simply Good Foods Price Performance

Shares of Simply Good Foods stock opened at $11.19 on Friday. The firm has a market cap of $989.88 million, a P/E ratio of -5.16 and a beta of 0.19. The firm's 50-day simple moving average is $10.50 and its 200-day simple moving average is $11.60. Simply Good Foods has a twelve month low of $9.38 and a twelve month high of $25.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.10 and a current ratio of 4.80.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new position in shares of Simply Good Foods during the second quarter valued at $30,000. Leonteq Securities AG grew its holdings in shares of Simply Good Foods by 96.2% in the 1st quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider's stock worth $33,000 after purchasing an additional 1,132 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Simply Good Foods by 244.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,995 shares of the financial services provider's stock worth $43,000 after purchasing an additional 2,125 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Simply Good Foods in the 2nd quarter worth about $72,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Simply Good Foods in the 2nd quarter worth about $72,000. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Company Profile

The Simply Good Foods Company NASDAQ: SMPL is a consumer packaged food company focused on nutritious and convenient foods and beverages. Its portfolio is built around products that support lower-sugar, higher-protein, and other health-conscious eating preferences.

The company's principal brands include Atkins, which offers nutrition products such as bars, shakes, snacks, frozen foods, and other items associated with low-carbohydrate lifestyles, and Quest, which markets protein bars, cookies, chips, pizza, shakes, and other high-protein snacks.

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