Simply Good Foods (NASDAQ:SMPL) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen cut shares of Simply Good Foods (NASDAQ:SMPL - Free Report) from a buy rating to a hold rating in a report published on Saturday morning.

SMPL has been the topic of several other reports. Citigroup lowered their price target on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Mizuho boosted their price target on Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, April 11th. UBS Group started coverage on Simply Good Foods in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $41.00 price objective on the stock. DA Davidson reduced their target price 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. Finally, Morgan Stanley raised their price target on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.86.

Simply Good Foods Stock Performance

Shares of Simply Good Foods stock traded up $0.12 during trading on Friday, hitting $32.72. 1,145,700 shares of the stock were exchanged, compared to its average volume of 960,199. Simply Good Foods has a 1-year low of $31.25 and a 1-year high of $40.53. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.71 and a beta of 0.72. The company has a fifty day moving average price of $34.97 and a 200-day moving average price of $36.03. The company has a current ratio of 4.27, a quick ratio of 2.70 and a debt-to-equity ratio of 0.16.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its earnings results on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. Simply Good Foods had a return on equity of 10.39% and a net margin of 10.31%. The company had revenue of $359.70 million during the quarter, compared to the consensus estimate of $354.50 million. During the same period in the previous year, the company posted $0.40 EPS. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities analysts predict that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $37.25, for a total transaction of $186,250.00. Following the completion of the sale, the senior vice president now directly owns 12,839 shares in the company, valued at $478,252.75. This represents a 28.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.35% of the company's stock.

Institutional Trading of Simply Good Foods

Several institutional investors and hedge funds have recently modified their holdings of SMPL. Quadrant Capital Group LLC raised its stake in Simply Good Foods by 13.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock worth $98,000 after acquiring an additional 300 shares in the last quarter. LPL Financial LLC increased its position in Simply Good Foods by 3.3% during the 4th quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider's stock worth $386,000 after purchasing an additional 315 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Simply Good Foods by 2.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 11,338 shares of the financial services provider's stock worth $442,000 after purchasing an additional 324 shares in the last quarter. Xponance Inc. lifted its stake in Simply Good Foods by 5.8% in the 1st quarter. Xponance Inc. now owns 7,325 shares of the financial services provider's stock valued at $253,000 after purchasing an additional 402 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Simply Good Foods by 72.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider's stock valued at $38,000 after buying an additional 445 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

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.