Simply Good Foods (NASDAQ:SMPL) Sees Unusually-High Trading Volume

Shares of The Simply Good Foods Company (NASDAQ:SMPL) saw unusually-strong trading volume on Tuesday . Approximately 559,989 shares changed hands during mid-day trading, a decline of 38% from the previous session’s volume of 906,675 shares.The stock last traded at $33.00 and had previously closed at $32.91.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SMPL shares. Needham & Company LLC dropped their price objective on shares of Simply Good Foods from $45.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Stifel Nicolaus lowered their price target on shares of Simply Good Foods from $48.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $42.00 price target on shares of Simply Good Foods in a research report on Thursday, April 11th. DA Davidson lowered their price target on shares of Simply Good Foods from $39.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, April 5th. Finally, TD Cowen began coverage on shares of Simply Good Foods in a research note on Monday. They set a “hold” rating and a $34.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Simply Good Foods has a consensus rating of “Moderate Buy” and an average price target of $40.14.

Simply Good Foods Trading Up 1.6 %

The business’s 50 day moving average price is $33.87 and its two-hundred day moving average price is $36.75. The company has a current ratio of 4.20, a quick ratio of 3.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 2.50 and a beta of 0.69.

Institutional Investors Weigh In On Simply Good Foods

Hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in Simply Good Foods by 121.5% during the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock worth $33,000 after buying an additional 457 shares during the period. Parkside Financial Bank & Trust boosted its position in 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 worth $34,000 after buying an additional 433 shares during the period. Principal Securities Inc. acquired a new stake in Simply Good Foods during the 4th quarter worth approximately $36,000. TFO Wealth Partners LLC boosted its position 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 buying an additional 1,182 shares during the period. Finally, Blue Trust Inc. boosted its position in 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 worth $73,000 after buying an additional 292 shares during the period. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Company Profile

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.