The Simply Good Foods Company (NASDAQ:SMPL) Short Interest Down 23.6% in April

The Simply Good Foods Company (NASDAQ:SMPL) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 2,270,000 shares, a drop of 23.6% from the March 31st total of 2,970,000 shares. Based on an average daily volume of 965,900 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.5% of the shares of the company are short sold.

Simply Good Foods Price Performance

SMPL traded up $2.20 during trading on Tuesday, hitting $36.45. The company’s stock had a trading volume of 2,578,379 shares, compared to its average volume of 947,125. The company has a current ratio of 4.20, a quick ratio of 3.09 and a debt-to-equity ratio of 0.14. Simply Good Foods has a twelve month low of $30.00 and a twelve month high of $43.00. The business’s fifty day simple moving average is $33.75 and its 200 day simple moving average is $36.78. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 2.54 and a beta of 0.69.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Thursday, April 4th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Simply Good Foods had a return on equity of 10.12% and a net margin of 11.12%. On average, equities research analysts forecast that Simply Good Foods will post 1.71 EPS for the current fiscal year.

Institutional Trading of Simply Good Foods

Several institutional investors have recently bought and sold shares of SMPL. Norden Group LLC boosted its stake in shares of Simply Good Foods by 36.2% in the first quarter. Norden Group LLC now owns 13,994 shares of the financial services provider’s stock worth $476,000 after acquiring an additional 3,716 shares during the last quarter. McCollum Christoferson Group LLC boosted its stake in shares of Simply Good Foods by 2.8% in the first quarter. McCollum Christoferson Group LLC now owns 135,609 shares of the financial services provider’s stock worth $4,615,000 after acquiring an additional 3,635 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Simply Good Foods by 248.8% in the first quarter. Assenagon Asset Management S.A. now owns 333,760 shares of the financial services provider’s stock worth $11,358,000 after acquiring an additional 238,064 shares during the last quarter. Wesbanco Bank Inc. acquired a new stake in shares of Simply Good Foods in the first quarter worth approximately $1,427,000. Finally, Congress Wealth Management LLC DE boosted its stake in shares of Simply Good Foods by 5.5% in the first quarter. Congress Wealth Management LLC DE now owns 198,854 shares of the financial services provider’s stock worth $6,767,000 after acquiring an additional 10,376 shares during the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SMPL. DA Davidson raised their price objective on Simply Good Foods from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $42.00 price objective on shares of Simply Good Foods in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 price target (up from $41.00) on shares of Simply Good Foods in a research report on Tuesday, January 2nd. Needham & Company LLC reiterated a “buy” rating and set a $41.00 price target on shares of Simply Good Foods in a research report on Tuesday. Finally, Stifel Nicolaus reduced their price target on Simply Good Foods from $48.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Simply Good Foods presently has a consensus rating of “Moderate Buy” and an average target price of $40.29.

About Simply Good Foods

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.