Simply Good Foods (SMPL) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research downgraded shares of Simply Good Foods (NASDAQ:SMPL) from a hold rating to a sell rating in a report released on Wednesday morning.
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 also recently issued research reports about the company. SunTrust Banks began coverage on Simply Good Foods in a report on Thursday, February 1st. They issued a buy rating and a $17.00 target price for the company. Stifel Nicolaus began coverage on Simply Good Foods in a report on Monday, January 22nd. They issued a buy rating and a $16.00 target price for the company. Finally, Berenberg Bank began coverage on Simply Good Foods in a report on Thursday, November 16th. They issued a buy rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $16.00.
Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Tuesday, January 9th. The financial services provider reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). The company had revenue of $106.59 million during the quarter, compared to analysts’ expectations of $105.70 million. research analysts predict that Simply Good Foods will post 0.54 earnings per share for the current fiscal year.
In related news, Director Robert G. Montgomery acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $12.40 per share, for a total transaction of $62,000.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.62% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Davidson Kempner Capital Management LP purchased a new stake in Simply Good Foods during the 3rd quarter worth about $8,483,000. Sii Investments Inc. WI purchased a new stake in Simply Good Foods in the 3rd quarter valued at about $798,000. Impala Asset Management LLC purchased a new stake in Simply Good Foods in the 3rd quarter valued at about $3,356,000. Teton Advisors Inc. purchased a new stake in Simply Good Foods in the 4th quarter valued at about $228,000. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in Simply Good Foods by 29.4% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 24,592 shares of the financial services provider’s stock valued at $351,000 after buying an additional 5,582 shares during the period. Hedge funds and other institutional investors own 76.51% of the company’s stock.
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Simply Good Foods Company Profile
The Simply Good Foods Company is a holding company. The Company through its subsidiaries, is engaged in developing, marketing and selling of branded nutritional foods and snacking products. The Company offers a range of products such as nutrition bars, ready to drink (RTD) shakes, snacks and confectionery products.
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