Simply Good Foods (NASDAQ:SMPL) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Simply Good Foods (NASDAQ:SMPL) from a hold rating to a buy rating in a report issued on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $31.00 price objective on the financial services provider’s stock.

According to Zacks, “The Simply Good Foods Company product portfolio consists primarily of nutrition bars, ready-to-drink shakes, snacks and confectionery products marketed under the Atkins(R), SimplyProtein(R), Atkins Endulge(R) and Atkins Harvest Trail brand names. The Simply Good Foods Company is based in Denver, United States. “

Several other research analysts have also commented on SMPL. DA Davidson assumed coverage on Nomad Foods in a research report on Wednesday, June 19th. They set a buy rating and a $26.00 price target for the company. ValuEngine upgraded Xylem from a hold rating to a buy rating in a report on Friday, June 21st. Buckingham Research set a $34.00 target price on Greenbrier Companies and gave the company a hold rating in a report on Wednesday, July 3rd. SunTrust Banks reiterated a hold rating and issued a $25.00 target price on shares of Simply Good Foods in a report on Wednesday, July 3rd. Finally, Deutsche Bank raised Elis from a hold rating to a buy rating in a report on Thursday, July 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $27.00.

SMPL opened at $26.71 on Tuesday. Simply Good Foods has a 52 week low of $16.40 and a 52 week high of $27.99. The stock’s fifty day moving average price is $23.91. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 46.05 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 7.57 and a current ratio of 8.63.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Tuesday, July 2nd. The financial services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Simply Good Foods had a return on equity of 6.81% and a net margin of 10.79%. The business had revenue of $139.50 million during the quarter, compared to analyst estimates of $120.85 million. During the same period last year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 30.1% on a year-over-year basis. Research analysts expect that Simply Good Foods will post 0.69 earnings per share for the current year.

In other Simply Good Foods news, COO Hanno E. Holm sold 1,750 shares of Simply Good Foods stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $27.87, for a total transaction of $48,772.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SMPL. Dimensional Fund Advisors LP increased its position in shares of Simply Good Foods by 245.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 834,888 shares of the financial services provider’s stock worth $15,778,000 after purchasing an additional 593,243 shares in the last quarter. BlackRock Inc. increased its position in shares of Simply Good Foods by 9.3% during the fourth quarter. BlackRock Inc. now owns 4,310,881 shares of the financial services provider’s stock worth $81,477,000 after purchasing an additional 366,590 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Simply Good Foods by 29.3% during the first quarter. OppenheimerFunds Inc. now owns 1,144,342 shares of the financial services provider’s stock worth $23,563,000 after purchasing an additional 259,192 shares in the last quarter. 361 Capital LLC acquired a new stake in shares of Simply Good Foods during the first quarter worth about $2,814,000. Finally, Redwood Investments LLC increased its position in shares of Simply Good Foods by 19.0% during the first quarter. Redwood Investments LLC now owns 809,234 shares of the financial services provider’s stock worth $16,662,000 after purchasing an additional 129,194 shares in the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.

About Simply Good Foods

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

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Analyst Recommendations for Simply Good Foods (NASDAQ:SMPL)

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