The Simply Good Foods Company (NASDAQ:SMPL) Receives $40.22 Average Target Price from Analysts

The Simply Good Foods Company (NASDAQ:SMPL) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $40.22.

A number of equities research analysts recently issued reports on SMPL shares. Citigroup reduced their target price on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Stephens reduced their price objective on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Mizuho reduced their price target on Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th.

Insider Buying and Selling

In related news, Director Joseph Scalzo sold 25,000 shares of Simply Good Foods stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total transaction of $899,750.00. Following the sale, the director now directly owns 139,204 shares in the company, valued at $5,009,951.96. The trade was a 15.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Timothy Allen Matthews sold 5,325 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $37.31, for a total transaction of $198,675.75. Following the transaction, the chief accounting officer now directly owns 17,063 shares in the company, valued at approximately $636,620.53. The trade was a 23.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,869 shares of company stock worth $12,139,570 over the last ninety days. 9.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Fulton Bank N.A. boosted its holdings in Simply Good Foods by 4.9% during the third quarter. Fulton Bank N.A. now owns 9,536 shares of the financial services provider’s stock worth $332,000 after buying an additional 443 shares in the last quarter. Stifel Financial Corp increased its position in shares of Simply Good Foods by 1.9% in the third quarter. Stifel Financial Corp now owns 26,688 shares of the financial services provider’s stock worth $928,000 after acquiring an additional 498 shares in the last quarter. Cynosure Group LLC lifted its position in shares of Simply Good Foods by 4.9% in the 3rd quarter. Cynosure Group LLC now owns 10,659 shares of the financial services provider’s stock valued at $371,000 after acquiring an additional 500 shares in the last quarter. HighTower Advisors LLC boosted its stake in Simply Good Foods by 3.9% in the 3rd quarter. HighTower Advisors LLC now owns 13,504 shares of the financial services provider’s stock worth $473,000 after purchasing an additional 501 shares during the period. Finally, Quarry LP grew its position in Simply Good Foods by 64.7% during the 3rd quarter. Quarry LP now owns 1,357 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 533 shares in the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

Simply Good Foods Stock Performance

NASDAQ SMPL opened at $38.00 on Friday. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $38.04 and its two-hundred day moving average is $35.41. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 3.35 and a beta of 0.67. Simply Good Foods has a 12-month low of $30.00 and a 12-month high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $341.30 million during the quarter, compared to the consensus estimate of $347.32 million. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 EPS. Research analysts expect that Simply Good Foods will post 1.78 EPS for the current year.

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.