Simply Good Foods (NASDAQ:SMPL) Given New $42.00 Price Target at Stephens

Simply Good Foods (NASDAQ:SMPL) had its price target trimmed by Stephens from $44.00 to $42.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently commented on SMPL. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price objective on shares of Simply Good Foods in a research note on Friday, June 28th. DA Davidson boosted their price target on shares of Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a research 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. According to MarketBeat.com, Simply Good Foods has an average rating of “Moderate Buy” and a consensus price target of $40.50.

Simply Good Foods Trading Up 0.4 %

Shares of SMPL stock opened at $33.46 on Wednesday. Simply Good Foods has a 1 year low of $30.00 and a 1 year high of $43.00. The company’s fifty day simple moving average is $33.29 and its two-hundred day simple moving average is $34.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 4.05. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 2.22 and a beta of 0.63.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The company had revenue of $375.70 million for the quarter, compared to analyst estimates of $373.07 million. During the same period in the previous year, the company posted $0.41 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, analysts anticipate that Simply Good Foods will post 1.69 earnings per share for the current year.

Insider Buying and Selling at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $34.44, for a total value of $36,437.52. Following the completion of the transaction, the senior vice president now directly owns 19,319 shares in the company, valued at approximately $665,346.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.98% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd bought a new position in shares of Simply Good Foods during the first quarter valued at about $615,000. Nordea Investment Management AB bought a new stake in shares of Simply Good Foods in the 1st quarter worth approximately $3,821,000. Mutual of America Capital Management LLC increased its stake in shares of Simply Good Foods by 507.9% during the first quarter. Mutual of America Capital Management LLC now owns 96,435 shares of the financial services provider’s stock valued at $3,282,000 after buying an additional 80,571 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Simply Good Foods by 171.2% during the first quarter. BNP Paribas Financial Markets now owns 214,587 shares of the financial services provider’s stock valued at $7,302,000 after acquiring an additional 135,465 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Simply Good Foods by 215.8% during the first quarter. Tidal Investments LLC now owns 37,396 shares of the financial services provider’s stock valued at $1,273,000 after acquiring an additional 25,553 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

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.