Simply Good Foods (NASDAQ:SMPL) Releases Quarterly Earnings Results, Meets Estimates

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

Simply Good Foods Trading Up 0.4 %

NASDAQ SMPL opened at $33.46 on Friday. The firm has a market cap of $3.35 billion, a PE ratio of 23.08, a P/E/G 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. The firm’s fifty day moving average is $33.29 and its two-hundred day moving average is $34.74. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.05 and a current ratio of 5.19.

Analyst Ratings Changes

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

Insider Buying and Selling at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the 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 completion of the transaction, the senior vice president now directly owns 19,319 shares of the company’s stock, valued at approximately $665,346.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.98% of the company’s stock.

About Simply Good Foods

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.