Simply Good Foods (NASDAQ:SMPL) Announces Earnings Results, Beats Expectations By $0.01 EPS

Simply Good Foods (NASDAQ:SMPL - Get Free Report) announced its earnings results on Thursday. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01, RTT News reports. The company had revenue of $380,956 billion during the quarter, compared to the consensus estimate of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 earnings per share.

Simply Good Foods Price Performance

Shares of SMPL stock traded up $0.58 during trading hours on Friday, reaching $32.89. The stock had a trading volume of 2,722,508 shares, compared to its average volume of 1,002,164. The stock's fifty day simple moving average is $33.79 and its 200 day simple moving average is $35.34. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14. Simply Good Foods has a 12 month low of $30.47 and a 12 month high of $40.53. The firm has a market capitalization of $3.31 billion, a PE ratio of 23.00, a PEG ratio of 3.01 and a beta of 0.68.

Hedge Funds Weigh In On Simply Good Foods

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of Simply Good Foods by 3.4% in the first quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider's stock valued at $656,000 after acquiring an additional 617 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Simply Good Foods by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,819 shares of the financial services provider's stock valued at $1,891,000 after acquiring an additional 2,850 shares during the period. Strs Ohio bought a new position in shares of Simply Good Foods in the first quarter valued at approximately $114,000. Royal Bank of Canada boosted its position in shares of Simply Good Foods by 9.0% in the first quarter. Royal Bank of Canada now owns 71,023 shares of the financial services provider's stock valued at $2,448,000 after acquiring an additional 5,893 shares during the period. Finally, Caxton Associates LLP bought a new position in shares of Simply Good Foods in the first quarter valued at approximately $264,000. 88.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SMPL. DA Davidson reduced their price target on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. UBS Group set a $36.00 price target on shares of Simply Good Foods and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Mizuho increased their price target on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, April 11th. Morgan Stanley increased their price target on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, April 10th. Finally, Citigroup reduced their price target on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Simply Good Foods currently has a consensus rating of "Moderate Buy" and an average target price of $39.71.

Simply Good Foods Company Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.