UBS Group Issues Pessimistic Forecast for Simply Good Foods (NASDAQ:SMPL) Stock Price

Simply Good Foods (NASDAQ:SMPL) had its target price dropped by analysts at UBS Group from $23.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective suggests a potential upside of 13.84% from the stock’s current price.

A number of other brokerages have also recently weighed in on SMPL. Sanford C. Bernstein reiterated an “outperform” rating on shares of Simply Good Foods in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $22.00 target price on shares of Simply Good Foods in a report on Monday, December 15th. Zacks Research cut Simply Good Foods from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a research note on Monday, December 29th. Finally, Mizuho set a $30.00 target price on Simply Good Foods in a research note on Thursday, January 15th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $28.33.

Simply Good Foods Trading Down 1.0%

NASDAQ:SMPL traded down $0.15 on Thursday, hitting $14.06. The stock had a trading volume of 1,273,342 shares, compared to its average volume of 2,177,511. 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 stock has a market cap of $1.30 billion, a price-to-earnings ratio of 15.63 and a beta of 0.26. The company has a fifty day moving average price of $16.33 and a two-hundred day moving average price of $19.61. Simply Good Foods has a 1-year low of $13.62 and a 1-year high of $38.15.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, January 8th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. The company had revenue of $340.20 million during 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 firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share. Equities research analysts expect that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

Institutional Trading of Simply Good Foods

Several hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in Simply Good Foods by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 538 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Simply Good Foods by 82.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock valued at $36,000 after buying an additional 807 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Simply Good Foods during the third quarter worth about $36,000. Parallel Advisors LLC increased its stake in shares of Simply Good Foods by 167.4% during the fourth quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,331 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Simply Good Foods in the fourth quarter valued at approximately $59,000. 88.45% of the stock is currently owned by institutional investors and hedge funds.

About Simply Good Foods

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.