DA Davidson Boosts Simply Good Foods (NASDAQ:SMPL) Price Target to $35.00

Simply Good Foods (NASDAQ:SMPL) had its target price lifted by investment analysts at DA Davidson from $34.00 to $35.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s target price suggests a potential downside of 5.33% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Simply Good Foods from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $42.00 price target (up from $41.00) on shares of Simply Good Foods in a research report on Tuesday, January 2nd. TD Cowen began coverage on Simply Good Foods in a research report on Monday, April 22nd. They issued a “hold” rating and a $34.00 price target on the stock. Mizuho reiterated a “buy” rating and set a $50.00 price target on shares of Simply Good Foods in a report on Friday, April 5th. Finally, Needham & Company LLC lowered their price objective on shares of Simply Good Foods from $45.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.29.

Simply Good Foods Trading Up 7.9 %

NASDAQ SMPL traded up $2.72 during trading hours on Tuesday, reaching $36.97. The company had a trading volume of 973,366 shares, compared to its average volume of 926,823. The stock has a 50-day moving average of $33.75 and a 200 day moving average of $36.78. Simply Good Foods has a 1-year low of $30.00 and a 1-year high of $43.00. The company has a current ratio of 4.20, a quick ratio of 3.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.70 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, April 4th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Simply Good Foods had a return on equity of 10.12% and a net margin of 11.12%. As a group, research analysts anticipate that Simply Good Foods will post 1.71 earnings per share for the current fiscal year.

Institutional Trading of Simply Good Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Simply Good Foods during the third quarter worth about $1,028,000. Exchange Traded Concepts LLC acquired a new position in shares of Simply Good Foods in the 3rd quarter worth approximately $540,000. Maryland State Retirement & Pension System increased its position in shares of Simply Good Foods by 1.3% during the third quarter. Maryland State Retirement & Pension System now owns 33,367 shares of the financial services provider’s stock worth $1,152,000 after buying an additional 412 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Simply Good Foods by 27.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,698 shares of the financial services provider’s stock valued at $542,000 after buying an additional 3,371 shares during the period. Finally, Advisor Partners II LLC bought a new stake in Simply Good Foods during the third quarter valued at $248,000. 88.45% of the stock is currently 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.