Simply Good Foods (NASDAQ:SMPL) Announces Earnings Results

Simply Good Foods (NASDAQ:SMPL) posted its quarterly earnings data on Thursday. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02, Briefing.com reports. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The company had revenue of $334.80 million during the quarter, compared to analyst estimates of $337.66 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Simply Good Foods updated its FY 2024 guidance to EPS.

Simply Good Foods Stock Performance

Simply Good Foods stock traded up $0.44 during trading hours on Friday, reaching $36.13. 1,687,447 shares of the company were exchanged, compared to its average volume of 695,687. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.12 and a beta of 0.65. The company has a current ratio of 5.19, a quick ratio of 3.09 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $36.71 and a 200 day moving average of $36.61. Simply Good Foods has a 12 month low of $30.00 and a 12 month high of $43.00.

Insiders Place Their Bets

In other news, Director James D. White sold 4,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the sale, the director now directly owns 17,027 shares of the company’s stock, valued at $649,920.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 10.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Friday, June 14th. Mizuho reiterated a “buy” rating and issued a $50.00 target price on shares of Simply Good Foods in a report on Friday, April 5th. Stifel Nicolaus upped their target price on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 14th. TD Cowen assumed coverage on Simply Good Foods in a report on Monday, April 22nd. They issued a “hold” rating and a $34.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $41.00 target price on shares of Simply Good Foods in a report on Friday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Simply Good Foods currently has an average rating of “Moderate Buy” and an average target price of $39.86.

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.