Simply Good Foods (NASDAQ:SMPL) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Simply Good Foods (NASDAQ:SMPL) from a hold rating to a buy rating in a report released on Monday morning, Marketbeat Ratings reports. Jefferies Financial Group currently has $22.00 target price on the financial services provider’s stock, down from their prior target price of $23.00.

SMPL has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $22.00 price objective on shares of Simply Good Foods in a research report on Monday, December 15th. Zacks Research lowered shares of Simply Good Foods from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Mizuho set a $30.00 price objective on shares of Simply Good Foods in a research report on Thursday, January 15th. UBS Group reiterated a “neutral” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Simply Good Foods in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.11.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL opened at $14.35 on Monday. The firm has a 50 day moving average of $17.67 and a 200 day moving average of $20.57. The company has a quick ratio of 3.24, a current ratio of 5.01 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.97 and a beta of 0.26. Simply Good Foods has a 52 week low of $14.28 and a 52 week high of $38.15.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, January 8th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $340.20 million for the quarter, compared to analysts’ expectations of $337.64 million. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. On average, sell-side analysts predict that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Simply Good Foods

A number of large investors have recently modified their holdings of SMPL. River Road Asset Management LLC purchased a new position in shares of Simply Good Foods in the 4th quarter valued at approximately $31,857,000. Marshall Wace LLP purchased a new stake in Simply Good Foods during the 3rd quarter worth approximately $31,825,000. Norges Bank acquired a new position in Simply Good Foods during the 2nd quarter valued at approximately $36,419,000. Millennium Management LLC increased its stake in Simply Good Foods by 482.7% during the 3rd quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock valued at $30,932,000 after purchasing an additional 1,032,358 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in shares of Simply Good Foods by 781.1% in the third quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock worth $22,397,000 after buying an additional 799,983 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Company Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.