Brokerages Set The Simply Good Foods Company (NASDAQ:SMPL) PT at $30.22

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have been assigned an average recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $30.2222.

A number of research analysts have weighed in on SMPL shares. Mizuho cut their price objective on shares of Simply Good Foods from $43.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. Morgan Stanley set a $24.00 price target on Simply Good Foods in a research note on Monday, October 27th. Sanford C. Bernstein upped their price target on Simply Good Foods from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, December 19th. UBS Group lowered their price target on Simply Good Foods from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Finally, Zacks Research cut Simply Good Foods from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th.

Simply Good Foods Trading Up 0.8%

Shares of NASDAQ:SMPL opened at $19.77 on Monday. The company has a current ratio of 3.64, a quick ratio of 2.30 and a debt-to-equity ratio of 0.14. Simply Good Foods has a 12-month low of $18.45 and a 12-month high of $40.01. The business has a 50 day moving average of $20.09 and a two-hundred day moving average of $26.19. The company has a market capitalization of $1.88 billion, a PE ratio of 19.38, a PEG ratio of 4.92 and a beta of 0.37.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Simply Good Foods had a return on equity of 10.06% and a net margin of 7.14%.The firm had revenue of $369.04 million for the quarter, compared to analyst estimates of $369.07 million. During the same period in the previous year, the business earned $0.50 EPS. Simply Good Foods’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, analysts forecast that Simply Good Foods will post 1.78 EPS for the current year.

Insider Buying and Selling

In related news, CFO Christopher J. Bealer purchased 9,946 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average price of $20.01 per share, with a total value of $199,019.46. Following the acquisition, the chief financial officer owned 32,966 shares in the company, valued at $659,649.66. The trade was a 43.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Timothy Allen Matthews sold 5,859 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $19.47, for a total transaction of $114,074.73. Following the transaction, the chief accounting officer directly owned 18,065 shares in the company, valued at approximately $351,725.55. The trade was a 24.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Simply Good Foods

Several institutional investors have recently bought and sold shares of SMPL. EverSource Wealth Advisors LLC increased its stake in Simply Good Foods by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after buying an additional 538 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Simply Good Foods in the third quarter valued at approximately $36,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Simply Good Foods in the first quarter worth approximately $54,000. CWM LLC increased its position in shares of Simply Good Foods by 343.0% during the third quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 2,017 shares in the last quarter. Finally, Quarry LP raised its stake in Simply Good Foods by 59.7% in the 1st quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 751 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Company Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.