UBS Group Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $12.00

Key Points

• UBS Group cut Simply Good Foods’ price target from $13 to $12 while keeping a neutral rating, implying only modest upside from the current share price.
• The stock traded around $11.58 after a slight gain, with shares still well below their 52-week high of $35.15 and near the low end of the yearly range.
• Simply Good Foods recently beat EPS estimates in its latest quarter, but revenue fell 9.4% year over year and came in below expectations, highlighting mixed operating results.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) had its price target decreased by UBS Group from $13.00 to $12.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. UBS Group's price objective indicates a potential upside of 3.62% from the company's current price.

A number of other research analysts also recently weighed in on SMPL. Stifel Nicolaus cut their price target on Simply Good Foods from $32.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. Jefferies Financial Group raised Simply Good Foods from a "hold" rating to a "buy" rating and cut their price target for the company from $23.00 to $22.00 in a research note on Monday, March 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on Simply Good Foods from $16.00 to $13.00 and set a "hold" rating on the stock in a research note on Friday, April 10th. DA Davidson reaffirmed a "neutral" rating and set a $39.00 price objective on shares of Simply Good Foods in a research note on Friday, April 10th. Finally, Morgan Stanley dropped their price objective on Simply Good Foods from $24.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Friday, April 10th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Simply Good Foods currently has an average rating of "Hold" and a consensus price target of $21.55.

Simply Good Foods Trading Up 0.5%

Shares of SMPL stock traded up $0.06 during trading hours on Tuesday, reaching $11.58. The company had a trading volume of 1,838,636 shares, compared to its average volume of 2,197,850. The company has a 50 day moving average of $12.64 and a 200 day moving average of $16.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.06 and a quick ratio of 2.87. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -9.80 and a beta of 0.21. Simply Good Foods has a 1-year low of $10.21 and a 1-year high of $35.15.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.05. The company had revenue of $326.01 million for the quarter, compared to the consensus estimate of $345.08 million. Simply Good Foods had a positive return on equity of 9.72% and a negative net margin of 7.46%.The firm's quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 EPS. On average, equities research analysts anticipate that Simply Good Foods will post 1.54 EPS for the current year.

Insider Activity at Simply Good Foods

In related news, Director James M. Kilts acquired 80,000 shares of the business's stock in a transaction on Thursday, April 23rd. The stock was purchased at an average cost of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the transaction, the director directly owned 172,854 shares of the company's stock, valued at approximately $2,141,661.06. The trade was a 86.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Clayton C. Daley, Jr. acquired 10,000 shares of the business's stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $11.78 per share, with a total value of $117,800.00. Following the completion of the transaction, the director directly owned 111,743 shares of the company's stock, valued at approximately $1,316,332.54. The trade was a 9.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 8.76% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in Simply Good Foods by 0.4% during the second quarter. California State Teachers Retirement System now owns 88,477 shares of the financial services provider's stock valued at $2,795,000 after purchasing an additional 383 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Simply Good Foods by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock worth $31,000 after buying an additional 538 shares during the last quarter. AQR Capital Management LLC grew its stake 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 purchasing an additional 617 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Simply Good Foods by 4.1% in the fourth quarter. Cerity Partners LLC now owns 18,000 shares of the financial services provider's stock worth $361,000 after purchasing an additional 701 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of Simply Good Foods by 3.4% in the second quarter. Gamco Investors INC. ET AL now owns 23,120 shares of the financial services provider's stock worth $730,000 after purchasing an additional 750 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

About Simply Good Foods

Simply Good Foods Co NASDAQ: SMPL is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.

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