Simply Good Foods (NASDAQ:SMPL) Raised to Strong-Buy at Zacks Investment Research

Simply Good Foods (NASDAQ:SMPL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $28.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.85% from the company’s current price.

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. “

Other equities research analysts have also recently issued research reports about the company. Deutsche Bank initiated coverage on Simply Good Foods in a research note on Wednesday, December 11th. They issued a “buy” rating and a $32.00 price target for the company. Goldman Sachs Group reissued a “buy” rating and issued a $32.00 price target on shares of Simply Good Foods in a research note on Monday, November 11th. Finally, ValuEngine lowered Simply Good Foods from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $30.57.

Shares of SMPL stock traded up $0.23 on Tuesday, hitting $24.38. The company had a trading volume of 316,600 shares, compared to its average volume of 1,282,292. The firm has a market cap of $2.32 billion, a P/E ratio of 43.54 and a beta of 0.77. The stock’s 50-day moving average is $27.46 and its two-hundred day moving average is $27.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.71 and a current ratio of 2.67. Simply Good Foods has a twelve month low of $18.75 and a twelve month high of $31.34.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, January 9th. The financial services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $152.20 million during the quarter, compared to analysts’ expectations of $159.40 million. Simply Good Foods had a return on equity of 5.64% and a net margin of 4.96%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Equities research analysts predict that Simply Good Foods will post 0.92 EPS for the current year.

In other Simply Good Foods news, CEO Joseph Scalzo bought 16,330 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $24.42 per share, for a total transaction of $398,778.60. Following the transaction, the chief executive officer now directly owns 465,683 shares in the company, valued at $11,371,978.86. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James M. Kilts bought 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $24.62 per share, for a total transaction of $1,723,400.00. Following the transaction, the director now owns 737,217 shares in the company, valued at $18,150,282.54. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 112,918 shares of company stock worth $2,741,204. 3.00% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC bought a new position in Simply Good Foods in the second quarter worth approximately $152,000. Oppenheimer & Co. Inc. bought a new position in Simply Good Foods in the third quarter worth approximately $203,000. NumerixS Investment Technologies Inc boosted its holdings in Simply Good Foods by 79.5% in the second quarter. NumerixS Investment Technologies Inc now owns 7,900 shares of the financial services provider’s stock worth $190,000 after acquiring an additional 3,500 shares in the last quarter. Alps Advisors Inc. bought a new position in Simply Good Foods in the third quarter worth approximately $362,000. Finally, Bank of Montreal Can boosted its holdings in Simply Good Foods by 65.2% in the second quarter. Bank of Montreal Can now owns 14,153 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 5,585 shares in the last quarter. Institutional investors and hedge funds own 73.06% 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.

Read More: Guidelines for Successful Channel Trading

Get a free copy of the Zacks research report on Simply Good Foods (SMPL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Simply Good Foods (NASDAQ:SMPL)

Receive News & Ratings for Simply Good Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simply Good Foods and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit