The Simply Good Foods Company (NASDAQ:SMPL) Receives $40.29 Average Price Target from Brokerages

by · The Markets Daily

Shares of The Simply Good Foods Company (NASDAQ:SMPL – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $40.29.

Several analysts recently commented on SMPL shares. Stifel Nicolaus boosted their price target on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft boosted their target price 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. DA Davidson upped their target price on shares of Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $41.00 price target on shares of Simply Good Foods in a report on Friday, June 28th.

Read Our Latest Analysis on SMPL

Simply Good Foods Trading Down 1.2 %

Shares of SMPL opened at $33.89 on Monday. The stock’s 50-day moving average price is $33.38 and its 200 day moving average price is $34.71. The company has a quick ratio of 4.05, a current ratio of 5.19 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 2.25 and a beta of 0.62. Simply Good Foods has a 12-month low of $30.00 and a 12-month high of $43.00.

Simply Good Foods (NASDAQ:SMPL – Get Free Report) last issued its earnings results on Thursday, June 27th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The business 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 company posted $0.40 earnings per share. Simply Good Foods’s revenue was up 3.1% on a year-over-year basis. As a group, research analysts predict that Simply Good Foods will post 1.69 earnings per share for the current year.

Insider Activity

In related news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $34.44, for a total transaction of $36,437.52. Following the transaction, the senior vice president now owns 19,319 shares in the company, valued at approximately $665,346.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Simply Good Foods

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in Simply Good Foods in the 2nd quarter valued at $30,000. GAMMA Investing LLC increased its position in Simply Good Foods by 182.4% in the second quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 549 shares during the period. Principal Securities Inc. acquired a new stake in Simply Good Foods in the fourth quarter worth about $36,000. TFO Wealth Partners LLC raised its holdings in Simply Good Foods by 59,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,182 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Simply Good Foods by 236.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,241 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

Simply Good Foods Company Profile

(Get Free Report

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.

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