Simply Good Foods (NASDAQ:SMPL) Announces Earnings Results

Simply Good Foods (NASDAQ:SMPL - Get Free Report) released its quarterly earnings data on Thursday. The financial services provider reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.01, RTT News reports. Simply Good Foods had a return on equity of 10.39% and a net margin of 10.31%. The business had revenue of $380,956 billion for the quarter, compared to the consensus estimate of $381.68 million. During the same quarter in the prior year, the business posted $0.50 EPS. The business's revenue for the quarter was up 13.8% on a year-over-year basis.

Simply Good Foods Trading Up 1.8%

Shares of NASDAQ:SMPL traded up $0.57 during midday trading on Friday, reaching $32.88. The company's stock had a trading volume of 1,614,382 shares, compared to its average volume of 996,102. The business has a 50 day moving average price of $33.87 and a 200 day moving average price of $35.43. Simply Good Foods has a 1 year low of $30.47 and a 1 year high of $40.53. The company has a quick ratio of 2.70, a current ratio of 4.27 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.96 and a beta of 0.68.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Stifel Nicolaus decreased their price objective on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, June 27th. Wall Street Zen cut Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Morgan Stanley raised their price objective on Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, April 10th. UBS Group set a $36.00 price target on Simply Good Foods and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Finally, Mizuho boosted their price target on Simply Good Foods from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, April 11th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $39.71.

Institutional Investors Weigh In On Simply Good Foods

A number of institutional investors have recently added to or reduced their stakes in SMPL. Royal Bank of Canada grew its position in Simply Good Foods by 9.0% during 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. 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 worth $656,000 after buying 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 worth $1,891,000 after buying an additional 2,850 shares during the period. Caxton Associates LLP purchased a new stake in shares of Simply Good Foods in the first quarter worth about $264,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Simply Good Foods by 10.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,229 shares of the financial services provider's stock worth $7,734,000 after buying an additional 21,696 shares during the period. Hedge funds and other institutional investors own 88.45% of the company's stock.

About Simply Good Foods

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.