Simply Good Foods (NASDAQ:SMPL) Research Coverage Started at Deutsche Bank

Deutsche Bank initiated coverage on shares of Simply Good Foods (NASDAQ:SMPL) in a note issued to investors on Wednesday, The Fly reports. The brokerage set a “buy” rating and a $32.00 price target on the financial services provider’s stock. Deutsche Bank’s target price points to a potential upside of 13.56% from the company’s previous close.

A number of other brokerages also recently weighed in on SMPL. ValuEngine downgraded Simply Good Foods from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Wells Fargo & Co initiated coverage on Simply Good Foods in a report on Monday, September 9th. They set an “outperform” rating and a $35.00 price target on the stock. Goldman Sachs Group reiterated a “buy” rating and set a $32.00 price target on shares of Simply Good Foods in a report on Monday, November 11th. DA Davidson lifted their price target on Simply Good Foods to $33.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Zacks Investment Research upgraded Simply Good Foods from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Simply Good Foods presently has a consensus rating of “Buy” and an average price target of $29.38.

Shares of SMPL stock opened at $28.18 on Wednesday. Simply Good Foods has a 1-year low of $16.55 and a 1-year high of $31.34. The company has a current ratio of 7.45, a quick ratio of 6.65 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 50.32 and a beta of 0.78. The stock’s fifty day simple moving average is $25.86 and its 200-day simple moving average is $26.37.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.08). Simply Good Foods had a net margin of 9.08% and a return on equity of 5.79%. The business had revenue of $139.18 million for the quarter, compared to analysts’ expectations of $132.50 million. During the same quarter in the prior year, the firm posted $0.15 EPS. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, sell-side analysts predict that Simply Good Foods will post 0.78 EPS for the current year.

In other news, Director James M. Kilts bought 70,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $24.62 per share, for a total transaction of $1,723,400.00. Following the completion of the purchase, the director now directly owns 737,217 shares of the company’s stock, valued at approximately $18,150,282.54. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph Scalzo bought 16,330 shares of the stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $24.42 per share, for a total transaction of $398,778.60. Following the purchase, the chief executive officer now directly owns 465,683 shares of the company’s stock, valued at $11,371,978.86. The disclosure for this purchase can be found here. Insiders acquired 86,643 shares of company stock worth $2,129,634 in the last 90 days. Corporate insiders own 2.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SMPL. BlackRock Inc. lifted its position in shares of Simply Good Foods by 12.6% in the second quarter. BlackRock Inc. now owns 4,702,639 shares of the financial services provider’s stock worth $113,240,000 after buying an additional 525,409 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Simply Good Foods by 3.6% in the second quarter. Vanguard Group Inc. now owns 3,422,288 shares of the financial services provider’s stock worth $82,409,000 after buying an additional 117,760 shares during the last quarter. Lomas Capital Management LLC lifted its position in shares of Simply Good Foods by 3.6% in the second quarter. Lomas Capital Management LLC now owns 2,108,545 shares of the financial services provider’s stock worth $50,774,000 after buying an additional 73,476 shares during the last quarter. Invesco Ltd. lifted its position in shares of Simply Good Foods by 1,058.1% in the second quarter. Invesco Ltd. now owns 1,453,234 shares of the financial services provider’s stock worth $34,994,000 after buying an additional 1,327,747 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Simply Good Foods in the second quarter worth about $29,691,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Simply Good Foods Company Profile

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

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The Fly

Analyst Recommendations for Simply Good Foods (NASDAQ:SMPL)

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