Short-term stake in The Simply Good Foods Company (NASDAQ:SMPL) increases 31.0%

Simply Good Foods (NASDAQ:SMPLGet a rating) benefited from strong growth in short-term interest rates in October. As of October 15, there was short interest totaling 3,420,000 shares, a growth of 31.0% from the total of 2,610,000 shares as of September 30. Based on an average daily volume of 704,400 shares, the short interest ratio is currently 4.9 days.

Simply Good Foods Price Performance

SMPL Stock traded at $0.40 during Friday’s trading, reaching $37.08. 604,918 shares of the company were traded, against an average volume of 778,056. The company has a 50-day moving average of $32.19 and a two-hundred-day moving average of $35.76. The company has a market capitalization of $3.67 billion, a price-earnings ratio of 34.33 and a beta of 0.75. Simply Good Foods has a 12-month low of $29.21 and a 12-month high of $45.77. The company has a debt ratio of 0.28, a current ratio of 3.44 and a quick ratio of 2.21.

Simply good foodNASDAQ:SMPLGet a rating) last released its results on Friday, October 21. The financial services provider reported earnings per share of $0.36 for the quarter, beating analysts’ consensus estimate of $0.27 by $0.09. Simply Good Foods had a net margin of 9.29% and a return on equity of 11.40%. The company posted revenue of $274.20 million for the quarter, versus analyst estimates of $260.81 million. During the same period of the previous year, the company posted EPS of $0.29. The company’s revenue for the quarter increased 5.6% compared to the same quarter last year. As a group, stock analysts predict Simply Good Foods will post 1.56 earnings per share for the current fiscal year.

Changes to analyst ratings

A number of research companies have published reports on the SMPL. Stephens cut his price target on Simply Good Foods shares from $45.00 to $40.00 and set an “overweight” rating for the company in a Wednesday, Oct. 12 report. Citigroup raised its target price on Simply Good Foods shares to $50.00 in a research report Thursday. Morgan Stanley raised its price target on Simply Good Foods shares from $34.00 to $35.00 and gave the company an “equal weight” rating in a Monday, Oct. 24 research report. Credit Suisse Group raised its target price on shares of Simply Good Foods to $42.00 in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised its price target on Simply Good Foods shares from $45.00 to $46.00 and gave the company a “buy” rating in a Monday, October 24 research report. One equity research analyst gave the stock a hold rating and nine gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.89.

Institutional investors weigh in on Simply Good Foods

A number of institutional investors have recently increased or reduced their stake in SMPL. Congress Asset Management Co. MA increased its stake in Simply Good Foods by 7.1% during the 1st quarter. Congress Asset Management Co. MA now owns 553,055 shares of the financial services provider worth $20,988,000 after acquiring 36,553 additional shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Simply Good Foods stock by 0.7% in Q1. The Louisiana State Employees Retirement System now owns 41,100 shares of the financial services provider valued at $1,822,000 after buying 300 additional shares in the last quarter. Handelsinvest Investeringsforvaltning increased its stake in Simply Good Foods shares by 9.4% in Q1. Handelsinvest Investeringsforvaltning now owns 175,000 shares of the financial services provider valued at $6,641,000 after buying an additional 15,000 shares in the last quarter. AMI Asset Management Corp increased its stake in Simply Good Foods shares by 5.2% in the 1st quarter. AMI Asset Management Corp now owns 213,932 shares of the financial services provider valued at $8,119,000 after buying an additional 10,496 shares in the last quarter. Finally, TownSquare Capital LLC increased its stake in the shares of Simply Good Foods by 43.6% in the 1st quarter. TownSquare Capital LLC now owns 18,676 shares of the financial services provider valued at $709,000 after purchasing an additional 5,667 shares in the last quarter. 87.05% of the shares are held by institutional investors.

Simply Good Foods Company Profile

(Get a rating)

The Simply Good Foods Company operates as a packaged food and beverage company for consumers 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 savory snacks, cookies, pizzas, protein chips, recipes and confectionery products, and frozen meals under license under the brands Atkins, Atkins Endulge and Quest.

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