The Simply Good Foods Company (NASDAQ:SMPL)’s stock price shot up 3.8% on Wednesday following a stronger than expected earnings report. The company traded as high as $32.35 and last traded at $32.34. 3,311 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 730,560 shares. The stock had previously closed at $31.17.
The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $230.60 million for the quarter, compared to analyst estimates of $230.03 million. The Simply Good Foods had a net margin of 6.92% and a return on equity of 7.36%. The Simply Good Foods’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.23 EPS.
A number of analysts have issued reports on the company. Smith Barney Citigroup raised their target price on The Simply Good Foods from $29.00 to $35.00 in a report on Thursday, January 7th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of The Simply Good Foods from $29.00 to $35.00 in a report on Thursday, January 7th. DA Davidson lowered shares of The Simply Good Foods from a “buy” rating to a “neutral” rating and upped their price objective for the company from $25.00 to $33.00 in a research report on Wednesday, February 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on The Simply Good Foods from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, January 7th. Finally, Stifel Nicolaus cut The Simply Good Foods from a “buy” rating to a “hold” rating and upped their price target for the company from $26.00 to $30.00 in a report on Thursday, January 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $31.71.
A number of hedge funds have recently made changes to their positions in SMPL. Huntington National Bank bought a new stake in The Simply Good Foods during the fourth quarter worth about $31,000. Vantage Consulting Group Inc bought a new position in shares of The Simply Good Foods in the fourth quarter valued at approximately $36,000. Point72 Hong Kong Ltd acquired a new position in shares of The Simply Good Foods in the 3rd quarter worth approximately $28,000. Private Capital Group LLC boosted its holdings in shares of The Simply Good Foods by 1,969.8% in the 4th quarter. Private Capital Group LLC now owns 1,780 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in The Simply Good Foods in the fourth quarter worth $77,000. 88.87% of the stock is owned by hedge funds and other institutional investors.
The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 49.97 and a beta of 0.98. The company has a quick ratio of 2.69, a current ratio of 3.70 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $30.60 and its two-hundred day moving average is $26.39.
About The Simply Good Foods (NASDAQ:SMPL)
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 primarily nutrition bars, ready-to-drink (RTD) shakes, sweet and salty snacks, protein bars, cookies, pizza, protein chips, recipes, and confectionery products, as well as licensed frozen meals under the Atkins, Atkins Endulge, and Quest brand names.
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