Simply Good Foods (NASDAQ:SMPL) Price Target Cut to $38.00

Simply Good Foods (NASDAQ:SMPL) had its target price decreased by equities researchers at Stifel Nicolaus from $48.00 to $38.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Stifel Nicolaus’ target price indicates a potential upside of 12.09% from the stock’s previous close.

SMPL has been the subject of a number of other reports. DA Davidson decreased their price target on Simply Good Foods from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $42.00 target price (up from $41.00) on shares of Simply Good Foods in a research note on Tuesday, January 2nd. Needham & Company LLC boosted their price objective on Simply Good Foods from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, January 5th. Finally, Morgan Stanley cut their target price on Simply Good Foods from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.75.

Simply Good Foods Trading Up 0.0 %

Simply Good Foods stock traded up $0.01 during trading hours on Thursday, reaching $33.90. 183,447 shares of the company’s stock were exchanged, compared to its average volume of 841,836. The company has a quick ratio of 3.46, a current ratio of 5.02 and a debt-to-equity ratio of 0.17. The firm’s 50 day simple moving average is $35.93 and its 200 day simple moving average is $36.93. Simply Good Foods has a twelve month low of $31.06 and a twelve month high of $43.00. The firm has a market capitalization of $3.38 billion, a PE ratio of 25.99, a PEG ratio of 2.45 and a beta of 0.70.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, January 4th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Simply Good Foods had a return on equity of 9.95% and a net margin of 10.66%. The firm had revenue of $308.70 million during the quarter, compared to the consensus estimate of $309.26 million. During the same period last year, the business posted $0.40 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. Research analysts predict that Simply Good Foods will post 1.7 earnings per share for the current year.

Insider Transactions at Simply Good Foods

In other news, Director Robert G. Montgomery sold 2,500 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $39.36, for a total value of $98,400.00. Following the transaction, the director now owns 52,738 shares of the company’s stock, valued at $2,075,767.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 1,048 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $40.45, for a total transaction of $42,391.60. Following the completion of the sale, the senior vice president now directly owns 21,084 shares in the company, valued at $852,847.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert G. Montgomery sold 2,500 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $39.36, for a total transaction of $98,400.00. Following the sale, the director now owns 52,738 shares of the company’s stock, valued at $2,075,767.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,326 shares of company stock valued at $2,877,965. 10.98% of the stock is currently owned by company insiders.

Institutional Trading of Simply Good Foods

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Belpointe Asset Management LLC increased its stake in shares of Simply Good Foods by 235.7% during the first quarter. Belpointe Asset Management LLC now owns 621 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 436 shares in the last quarter. Point72 Middle East FZE bought a new position in shares of Simply Good Foods during the fourth quarter valued at approximately $30,000. Pacer Advisors Inc. increased its stake in shares of Simply Good Foods by 121.5% during the fourth quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 457 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Simply Good Foods by 103.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 433 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Simply Good Foods during the fourth quarter valued at approximately $36,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

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.