Needham & Company LLC Reiterates Buy Rating for Simply Good Foods (NASDAQ:SMPL)

Simply Good Foods (NASDAQ:SMPL)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $41.00 price target on the financial services provider’s stock. Needham & Company LLC’s price objective indicates a potential upside of 11.56% from the company’s current price.

Several other research firms have also recently issued reports on SMPL. Stifel Nicolaus decreased their price target on Simply Good Foods from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. TD Cowen initiated coverage on Simply Good Foods in a report on Monday, April 22nd. They issued a “hold” rating and a $34.00 price target on the stock. DA Davidson raised their price target on Simply Good Foods from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday. Mizuho reiterated a “buy” rating and issued a $50.00 price target on shares of Simply Good Foods in a report on Friday, April 5th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $42.00 price target on shares of Simply Good Foods in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.29.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL opened at $36.75 on Tuesday. Simply Good Foods has a twelve month low of $30.00 and a twelve month high of $43.00. The firm has a market cap of $3.67 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.53 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.09 and a current ratio of 4.20. The business has a fifty day moving average of $33.78 and a 200-day moving average of $36.80.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, April 4th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Simply Good Foods had a return on equity of 10.12% and a net margin of 11.12%. On average, equities research analysts predict that Simply Good Foods will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Simply Good Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMPL. Pacer Advisors Inc. lifted its holdings in shares of Simply Good Foods by 121.5% during the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 457 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Simply Good Foods by 103.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 433 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Simply Good Foods during the 4th quarter valued at about $36,000. TFO Wealth Partners LLC lifted its holdings in shares of 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 valued at $47,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Simply Good Foods by 18.8% during the 4th quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 292 shares in the last quarter. Institutional investors own 88.45% of the company’s stock.

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.