Simply Good Foods (NASDAQ:SMPL) Announces Quarterly Earnings Results

Simply Good Foods (NASDAQ:SMPL) announced its quarterly earnings results on Thursday. The financial services provider reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50, Briefing.com reports. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The firm had revenue of $375.70 million for the quarter, compared to analyst estimates of $373.07 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was up 17.3% on a year-over-year basis. Simply Good Foods updated its FY 2024 guidance to EPS.

Simply Good Foods Stock Performance

Shares of SMPL opened at $33.46 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 4.05. The firm has a 50-day moving average of $33.29 and a 200-day moving average of $34.74. The company has a market cap of $3.35 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 2.22 and a beta of 0.63. Simply Good Foods has a one year low of $30.00 and a one year high of $43.00.

Analysts Set New Price Targets

SMPL has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Simply Good Foods in a research report on Friday, June 28th. Stephens reduced their price objective on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, DA Davidson lifted their target price on Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Simply Good Foods has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $34.44, for a total transaction of $36,437.52. Following the transaction, the senior vice president now owns 19,319 shares of the company’s stock, valued at $665,346.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.98% of the stock is currently owned by company insiders.

Simply Good Foods Company Profile

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.