Simply Good Foods (NASDAQ:SMPL) Hits New 52-Week High Following Analyst Upgrade

Simply Good Foods Co (NASDAQ:SMPL) reached a new 52-week high during trading on Thursday after DA Davidson raised their price target on the stock to $33.00. DA Davidson currently has a buy rating on the stock. Simply Good Foods traded as high as $28.63 and last traded at $28.40, with a volume of 3408 shares. The stock had previously closed at $27.35.

Several other equities research analysts have also recently issued reports on SMPL. Sanford C. Bernstein began coverage on shares of Simply Good Foods in a research report on Monday, August 12th. They set an “outperform” rating on the stock. SunTrust Banks reiterated a “hold” rating and set a $25.00 price objective on shares of Simply Good Foods in a research report on Wednesday, July 3rd. Deutsche Bank lifted their price objective on shares of Simply Good Foods from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, July 4th. ValuEngine cut shares of Simply Good Foods from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Buckingham Research lifted their price objective on shares of Simply Good Foods from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $28.00.

In related news, COO Hanno E. Holm sold 15,983 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $26.88, for a total value of $429,623.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Hanno E. Holm sold 1,750 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $27.87, for a total transaction of $48,772.50. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of SMPL. Susquehanna International Group LLP raised its holdings in shares of Simply Good Foods by 204.1% in the second quarter. Susquehanna International Group LLP now owns 57,179 shares of the financial services provider’s stock valued at $1,377,000 after acquiring an additional 38,379 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Simply Good Foods by 39.6% in the second quarter. Voloridge Investment Management LLC now owns 27,700 shares of the financial services provider’s stock valued at $667,000 after acquiring an additional 7,860 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Simply Good Foods in the second quarter valued at about $29,691,000. UBS Asset Management Americas Inc. raised its holdings in shares of Simply Good Foods by 35.1% in the second quarter. UBS Asset Management Americas Inc. now owns 49,152 shares of the financial services provider’s stock valued at $1,184,000 after acquiring an additional 12,768 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Simply Good Foods in the second quarter valued at about $676,000. 86.92% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.23, a current ratio of 8.63 and a quick ratio of 7.57. The firm has a fifty day moving average of $26.99 and a two-hundred day moving average of $23.07. The stock has a market capitalization of $2.33 billion, a P/E ratio of 50.64 and a beta of 0.85.

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

Simply Good Foods Company Profile (NASDAQ:SMPL)

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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