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

Simply Good Foods (NASDAQ:SMPL) posted its earnings results on Thursday. The financial services provider reported $0.50 EPS 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 the consensus estimate of $373.07 million. During the same period last year, the firm posted $0.41 EPS. The company’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 Trading Up 0.4 %

NASDAQ:SMPL opened at $33.46 on Friday. Simply Good Foods has a 12-month low of $30.00 and a 12-month high of $43.00. The company has a current ratio of 5.19, a quick ratio of 4.05 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $33.29 and its 200-day simple moving average is $34.75. The firm has a market cap of $3.35 billion, a P/E ratio of 23.08, a PEG ratio of 2.22 and a beta of 0.63.

Insider Buying and Selling

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were 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 owns 19,319 shares in the company, valued at approximately $665,346.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SMPL. Stephens reduced their target price on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday. DA Davidson increased their price objective on Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, July 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

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.