Simply Good Foods Co (NASDAQ:SMPL) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,684,566 shares, an increase of 28.1% from the January 15th total of 1,314,868 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average daily volume of 523,941 shares, the days-to-cover ratio is presently 3.2 days.
SMPL has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on Simply Good Foods from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, January 4th. Buckingham Research initiated coverage on Simply Good Foods in a report on Wednesday, October 17th. They set a “buy” rating and a $22.00 price objective for the company. CL King initiated coverage on Simply Good Foods in a report on Monday, November 19th. They set a “buy” rating for the company. Finally, Zacks Investment Research cut Simply Good Foods from a “hold” rating to a “sell” rating in a report on Saturday, January 5th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Simply Good Foods presently has an average rating of “Buy” and an average price target of $20.20.
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Several hedge funds and other institutional investors have recently modified their holdings of SMPL. Citigroup Inc. increased its stake in shares of Simply Good Foods by 17.6% in the fourth quarter. Citigroup Inc. now owns 19,548 shares of the financial services provider’s stock valued at $369,000 after buying an additional 2,927 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Simply Good Foods by 24.4% in the second quarter. Bank of America Corp DE now owns 16,619 shares of the financial services provider’s stock valued at $240,000 after buying an additional 3,260 shares in the last quarter. First Quadrant L P CA acquired a new stake in shares of Simply Good Foods in the fourth quarter valued at $73,000. Teachers Advisors LLC increased its stake in shares of Simply Good Foods by 4.0% in the third quarter. Teachers Advisors LLC now owns 118,414 shares of the financial services provider’s stock valued at $2,303,000 after buying an additional 4,572 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Simply Good Foods in the fourth quarter valued at $101,000. 83.10% of the stock is owned by institutional investors.
Shares of NASDAQ SMPL opened at $20.74 on Wednesday. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 35.76 and a beta of 0.71. Simply Good Foods has a 52-week low of $12.14 and a 52-week high of $21.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.17 and a quick ratio of 8.00.
Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Thursday, January 3rd. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The company had revenue of $121.00 million for the quarter, compared to the consensus estimate of $122.38 million. Simply Good Foods had a net margin of 16.94% and a return on equity of 6.99%. Simply Good Foods’s revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts predict that Simply Good Foods will post 0.62 earnings per share for the current year.
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Simply Good Foods Company Profile
The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.
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