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

Wall Street Zen downgraded shares of Simply Good Foods (NASDAQ:SMPL - Free Report) from a buy rating to a hold rating in a research note released on Saturday.

Other equities research analysts have also issued reports about the stock. DA Davidson lowered 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 report on Monday, June 9th. Mizuho upped their price objective 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 raised their target price 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. Citigroup cut their price target on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, UBS Group assumed coverage on Simply Good Foods in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $41.00 price target for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.86.

Simply Good Foods Stock Down 1.5%

NASDAQ:SMPL traded down $0.50 during mid-day trading on Friday, hitting $32.29. The company had a trading volume of 941,870 shares, compared to its average volume of 960,269. The business has a fifty day simple moving average of $35.07 and a 200-day simple moving average of $36.10. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.71 and a beta of 0.72. Simply Good Foods has a 1 year low of $31.25 and a 1 year high of $40.53. 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 released its quarterly 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 firm had revenue of $359.70 million for the quarter, compared to analyst estimates of $354.50 million. During the same period in the previous year, the company posted $0.40 EPS. Simply Good Foods's revenue for the quarter was up 15.2% on a year-over-year basis. Equities analysts forecast that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

Insider Transactions at Simply Good Foods

In related news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 12,839 shares of the company's stock, valued at approximately $478,252.75. This represents a 28.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.35% of the company's stock.

Institutional Trading of Simply Good Foods

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

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.