Simply Good Foods (NASDAQ:SMPL) PT Lowered to $42.00 at Stephens

Simply Good Foods (NASDAQ:SMPL) had its price target dropped by investment analysts at Stephens from $44.00 to $42.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Stephens’ price target indicates a potential upside of 26.01% from the stock’s current price.

Other research analysts have also issued reports about the stock. DA Davidson raised their price objective on shares of Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Simply Good Foods in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.50.

Simply Good Foods Trading Up 3.3 %

SMPL opened at $33.33 on Wednesday. Simply Good Foods has a twelve month low of $30.00 and a twelve month high of $43.00. The company has a quick ratio of 4.05, a current ratio of 5.19 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $33.28 and a 200-day moving average of $34.73. The stock has a market cap of $3.34 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 2.22 and a beta of 0.63.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The firm had revenue of $375.70 million for the quarter, compared to analyst estimates of $373.07 million. During the same period last year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts predict that Simply Good Foods will post 1.69 EPS for the current year.

Insider Buying and Selling

In related news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $34.44, for a total transaction of $36,437.52. Following the completion of the sale, the senior vice president now owns 19,319 shares in the company, valued at approximately $665,346.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 large investors have recently modified their holdings of the business. Boston Trust Walden Corp purchased a new position in shares of Simply Good Foods in the third quarter worth about $80,270,000. Schwartz Investment Counsel Inc. purchased a new position in shares of Simply Good Foods in the third quarter worth about $7,562,000. AlphaMark Advisors LLC purchased a new position in shares of Simply Good Foods in the third quarter worth about $344,000. nVerses Capital LLC purchased a new position in shares of Simply Good Foods in the third quarter worth about $275,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Simply Good Foods by 12.6% in the third quarter. Exchange Traded Concepts LLC now owns 51,324 shares of the financial services provider’s stock worth $1,785,000 after purchasing an additional 5,756 shares in the last quarter. Hedge funds and other 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.