Simply Good Foods (NASDAQ:SMPL) Posts Earnings Results, Beats Expectations By $0.05 EPS

Simply Good Foods (NASDAQ:SMPL) announced its quarterly earnings results on Thursday. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05, Briefing.com reports. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.During the same quarter last year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was down 9.4% compared to the same quarter last year.

Simply Good Foods Price Performance

Shares of SMPL stock opened at $10.88 on Thursday. Simply Good Foods has a fifty-two week low of $11.04 and a fifty-two week high of $38.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 11.71 and a beta of 0.33. The stock’s 50-day simple moving average is $15.75 and its 200-day simple moving average is $19.18.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $22.00 price target on shares of Simply Good Foods in a research report on Monday, December 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Simply Good Foods in a research report on Monday, December 29th. Mizuho set a $30.00 target price on shares of Simply Good Foods in a research note on Thursday, January 15th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Simply Good Foods in a research report on Friday, January 9th. Finally, UBS Group lowered their price target on Simply Good Foods from $23.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. 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 stock. Based on data from MarketBeat.com, Simply Good Foods presently has an average rating of “Hold” and a consensus target price of $28.33.

Institutional Trading of Simply Good Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMPL. EverSource Wealth Advisors LLC lifted 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 valued at $31,000 after acquiring an additional 538 shares during the period. Johnson Financial Group Inc. purchased a new stake in Simply Good Foods in the third quarter valued at $36,000. Parallel Advisors LLC grew its position in Simply Good Foods by 167.4% during the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,331 shares during the period. Empowered Funds LLC purchased a new position in shares of Simply Good Foods during the 4th quarter valued at about $59,000. Finally, State of Wyoming purchased a new position in shares of Simply Good Foods during the 2nd quarter valued at about $87,000. Institutional investors and hedge funds 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.