Simply Good Foods (NASDAQ:SMPL) Posts Earnings Results

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

Simply Good Foods Stock Up 1.2 %

Simply Good Foods stock traded up $0.44 during midday trading on Friday, hitting $36.13. 1,687,447 shares of the stock were exchanged, compared to its average volume of 695,687. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 3.09. The company has a 50 day moving average price of $36.71 and a two-hundred day moving average price of $36.61. The firm has a market cap of $3.61 billion, a P/E ratio of 24.92, a P/E/G ratio of 2.12 and a beta of 0.65. Simply Good Foods has a 1 year low of $30.00 and a 1 year high of $43.00.

Insider Activity

In other Simply Good Foods news, Director James D. White sold 4,000 shares of Simply Good Foods stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $38.17, for a total transaction of $152,680.00. Following the sale, the director now directly owns 17,027 shares in the company, valued at approximately $649,920.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.98% of the company’s stock.

Analyst Upgrades and Downgrades

SMPL has been the subject of a number of research reports. Mizuho reissued a “buy” rating and set a $50.00 price target on shares of Simply Good Foods in a research report on Friday, April 5th. Needham & Company LLC reiterated a “buy” rating and set a $41.00 target price on shares of Simply Good Foods in a report on Friday. Morgan Stanley restated an “overweight” rating and issued a $42.00 price target on shares of Simply Good Foods in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Friday, June 14th. Finally, TD Cowen started coverage on shares of Simply Good Foods in a research note on Monday, April 22nd. They issued a “hold” rating and a $34.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Simply Good Foods presently has an average rating of “Moderate Buy” and a consensus 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.