Simply Good Foods (NASDAQ:SMPL) Price Target Cut to $43.00 by Analysts at Citigroup

Simply Good Foods (NASDAQ:SMPL) had its target price decreased by Citigroup from $46.00 to $43.00 in a research note issued to investors on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the financial services provider’s stock.

Separately, Stephens decreased their price target on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.78.

Simply Good Foods Price Performance

SMPL stock opened at $36.71 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.05 and a quick ratio of 2.75. Simply Good Foods has a 1 year low of $30.00 and a 1 year high of $43.00. The firm has a 50-day moving average of $34.23 and a 200 day moving average of $34.95. The company has a market cap of $3.68 billion, a P/E ratio of 26.60, a PEG ratio of 3.25 and a beta of 0.64.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. The firm had revenue of $375.70 million during the quarter, compared to analyst estimates of $373.07 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. On average, sell-side analysts forecast that Simply Good Foods will post 1.76 EPS for the current year.

Insider Buying and Selling at Simply Good Foods

In other news, Director Joseph Scalzo sold 147,200 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $36.86, for a total transaction of $5,425,792.00. Following the sale, the director now owns 141,439 shares in the company, valued at $5,213,441.54. This represents a 51.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Timothy Richard Kraft sold 21,209 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $36.50, for a total transaction of $774,128.50. Following the completion of the transaction, the insider now owns 40,068 shares of the company’s stock, valued at approximately $1,462,482. The trade was a 34.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,108 shares of company stock worth $9,253,356. 10.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Simply Good Foods

Large investors have recently bought and sold shares of the business. Quarry LP bought a new position in Simply Good Foods during the 2nd quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in shares of Simply Good Foods by 182.4% during the second quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 549 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Simply Good Foods by 236.4% during the second 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. Innealta Capital LLC bought a new stake in Simply Good Foods in the 2nd quarter worth approximately $71,000. Finally, KBC Group NV lifted its holdings in shares of Simply Good Foods by 31.9% during the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after buying an additional 746 shares during the period. 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.