Simply Good Foods (NASDAQ:SMPL) Stock Price Expected to Rise, Mizuho Analyst Says

Simply Good Foods (NASDAQ:SMPL) had its price objective lifted by Mizuho from $45.00 to $47.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price target would indicate a potential upside of 23.68% from the stock’s current price.

Several other research firms have also recently commented on SMPL. Morgan Stanley raised their price target on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday. DA Davidson lifted their target price on shares of Simply Good Foods from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.22.

Simply Good Foods Stock Up 4.8 %

Shares of NASDAQ:SMPL opened at $38.00 on Friday. The firm has a 50 day simple moving average of $35.74 and a 200 day simple moving average of $36.31. Simply Good Foods has a 52 week low of $31.25 and a 52 week high of $40.53. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.75 and a current ratio of 4.23. The company has a market cap of $3.84 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 3.23 and a beta of 0.63.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The business had revenue of $359.70 million for the quarter, compared to the consensus estimate of $354.50 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. Simply Good Foods’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, research analysts expect that Simply Good Foods will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $37.25, for a total transaction of $186,250.00. Following the completion of the sale, the senior vice president now owns 12,839 shares in the company, valued at approximately $478,252.75. This represents a 28.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Simply Good Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Simply Good Foods by 86.5% in the fourth quarter. FMR LLC now owns 9,566,199 shares of the financial services provider’s stock valued at $372,890,000 after purchasing an additional 4,437,372 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in Simply Good Foods by 10.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,811,128 shares of the financial services provider’s stock valued at $148,558,000 after buying an additional 366,072 shares during the last quarter. State Street Corp raised its holdings in Simply Good Foods by 6.0% in the 3rd quarter. State Street Corp now owns 3,666,190 shares of the financial services provider’s stock worth $127,473,000 after acquiring an additional 208,070 shares during the period. Dimensional Fund Advisors LP lifted its position in Simply Good Foods by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,553,864 shares of the financial services provider’s stock worth $138,528,000 after acquiring an additional 90,444 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Simply Good Foods by 23.5% during the fourth quarter. Wellington Management Group LLP now owns 3,546,239 shares of the financial services provider’s stock valued at $138,232,000 after acquiring an additional 674,618 shares during the period. 88.45% of the stock is currently owned by institutional investors and hedge funds.

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.