Brokerages Set The Simply Good Foods Company (NASDAQ:SMPL) Price Target at $30.22

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have been assigned an average rating of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $30.2222.

A number of research firms have issued reports on SMPL. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $22.00 price target on shares of Simply Good Foods in a research note on Monday, December 15th. Mizuho cut their target price on Simply Good Foods from $43.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Zacks Research downgraded Simply Good Foods from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 28th. UBS Group lowered their price target on Simply Good Foods from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a report on Monday, December 22nd.

Insider Buying and Selling

In other Simply Good Foods news, insider Michael L. Clawson bought 5,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $100,000.00. Following the purchase, the insider directly owned 37,620 shares of the company’s stock, valued at approximately $752,400. This represents a 15.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Bealer bought 9,946 shares of Simply Good Foods stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of $20.01 per share, with a total value of $199,019.46. Following the completion of the acquisition, the chief financial officer owned 32,966 shares of the company’s stock, valued at $659,649.66. This represents a 43.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 8.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in shares of Simply Good Foods by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 538 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Simply Good Foods during the third quarter valued at about $36,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Simply Good Foods during the first quarter worth about $54,000. CWM LLC raised its position in Simply Good Foods by 343.0% in the third quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 2,017 shares during the period. Finally, Quarry LP boosted its stake in Simply Good Foods by 59.7% in the first quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 751 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Stock Performance

NASDAQ SMPL opened at $19.98 on Monday. The company has a market cap of $1.90 billion, a P/E ratio of 19.59, a PEG ratio of 5.01 and a beta of 0.37. The company has a fifty day simple moving average of $19.91 and a 200 day simple moving average of $25.94. The company has a current ratio of 3.64, a quick ratio of 2.30 and a debt-to-equity ratio of 0.14. Simply Good Foods has a 12-month low of $18.45 and a 12-month high of $40.01.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $369.04 million during the quarter, compared to the consensus estimate of $369.07 million. Simply Good Foods had a net margin of 7.14% and a return on equity of 10.06%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share. Sell-side analysts predict that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

Simply Good Foods Company Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.