Simply Good Foods (NASDAQ:SMPL) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Simply Good Foods (NASDAQ:SMPL) in a research note released on Friday, Benzinga reports. They currently have a $41.00 price target on the financial services provider’s stock.

A number of other research firms have also recently weighed in on SMPL. Mizuho reissued a buy rating and set a $50.00 price objective on shares of Simply Good Foods in a report on Friday, April 5th. DA Davidson lifted their target price on shares of Simply Good Foods from $34.00 to $35.00 and gave the company a neutral rating in a report on Tuesday, April 30th. Stifel Nicolaus lifted their target price on shares of Simply Good Foods from $38.00 to $40.00 and gave the company a buy rating in a report on Friday, June 14th. TD Cowen initiated coverage on shares of Simply Good Foods in a report on Monday, April 22nd. They issued a hold rating and a $34.00 target price on the stock. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $42.00 target price on shares of Simply Good Foods in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $39.86.

Simply Good Foods Stock Up 1.2 %

SMPL stock opened at $36.13 on Friday. The company has a current ratio of 5.19, a quick ratio of 3.09 and a debt-to-equity ratio of 0.14. Simply Good Foods has a twelve month low of $30.00 and a twelve month high of $43.00. The company’s 50 day moving average is $36.71 and its two-hundred day moving average is $36.66. The stock has a market cap of $3.61 billion, a P/E ratio of 24.92, a PEG ratio of 2.10 and a beta of 0.65.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, April 4th. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The company had revenue of $312.20 million for the quarter, compared to analysts’ expectations of $313.57 million. Research analysts expect that Simply Good Foods will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Simply Good Foods

In other Simply Good Foods news, Director James D. White sold 4,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $152,680.00. Following the transaction, the director now directly owns 17,027 shares of the company’s stock, valued at approximately $649,920.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Simply Good Foods

Several institutional investors have recently bought and sold shares of SMPL. Blue Trust Inc. boosted its position 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 worth $73,000 after purchasing an additional 292 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Simply Good Foods by 1.7% during the 4th quarter. Teacher Retirement System of Texas now owns 20,007 shares of the financial services provider’s stock worth $792,000 after purchasing an additional 326 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its position in shares of Simply Good Foods by 3.6% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 11,210 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 394 shares in the last quarter. Parkside Financial Bank & Trust boosted its position 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 worth $34,000 after purchasing an additional 433 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position 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 worth $33,000 after purchasing an additional 457 shares in the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

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.