Simply Good Foods (NASDAQ:SMPL) Price Target Cut to $38.00 by Analysts at DA Davidson

Simply Good Foods (NASDAQ:SMPL) had its target price lowered by DA Davidson from $42.00 to $38.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Morgan Stanley raised their price objective on Simply Good Foods from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, April 10th. Mizuho lifted their target price on shares of Simply Good Foods from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, April 11th. Wall Street Zen raised shares of Simply Good Foods from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Finally, UBS Group initiated coverage on Simply Good Foods in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $41.00 target price on the stock. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.67.

Simply Good Foods Price Performance

Shares of SMPL opened at $34.12 on Monday. The business’s 50-day moving average is $35.46 and its 200-day moving average is $36.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 3.23 and a beta of 0.72. Simply Good Foods has a fifty-two week low of $31.25 and a fifty-two week high of $40.53.

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

Insider Transactions at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of Simply Good Foods stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the transaction, the senior vice president now owns 12,839 shares in the company, valued at approximately $478,252.75. The trade was a 28.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simply Good Foods

Institutional investors have recently bought and sold shares of the business. FMR LLC grew its stake in shares of Simply Good Foods by 86.5% during 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 last quarter. Norges Bank bought a new position in Simply Good Foods in the 4th quarter valued at $44,006,000. Wellington Management Group LLP increased its stake in shares of Simply Good Foods by 23.5% in the 4th quarter. Wellington Management Group LLP now owns 3,546,239 shares of the financial services provider’s stock valued at $138,232,000 after buying an additional 674,618 shares during the period. Boston Partners raised its position in shares of Simply Good Foods by 109.0% during the fourth quarter. Boston Partners now owns 1,221,285 shares of the financial services provider’s stock worth $47,287,000 after acquiring an additional 637,038 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Simply Good Foods by 52.1% during the first quarter. Victory Capital Management Inc. now owns 1,539,208 shares of the financial services provider’s stock valued at $53,087,000 after acquiring an additional 527,089 shares during the period. Institutional investors own 88.45% of the company’s stock.

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.