The Simply Good Foods Company (NASDAQ:SMPL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $40.29.

SMPL has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $41.00 target price on shares of Simply Good Foods in a report on Friday, June 28th. Morgan Stanley reissued an “overweight” rating and issued a $42.00 target price on shares of Simply Good Foods in a report on Thursday, April 11th. TD Cowen initiated coverage on Simply Good Foods in a report on Monday, April 22nd. They set a “hold” rating and a $34.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a report on Friday, June 14th. Finally, Mizuho reaffirmed a “buy” rating and set a $50.00 price target on shares of Simply Good Foods in a report on Friday, April 5th.

Insiders Place Their Bets

In other Simply Good Foods news, Director James D. White sold 4,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the sale, the director now owns 17,027 shares in the company, valued at $649,920.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 10.98% of the company’s stock.

Institutional Trading of Simply Good Foods

Institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its stake in Simply Good Foods by 13.2% during the third quarter. Envestnet Asset Management Inc. now owns 137,506 shares of the financial services provider’s stock valued at $4,747,000 after buying an additional 16,019 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Simply Good Foods by 1.7% in the 3rd quarter. Northern Trust Corp now owns 975,928 shares of the financial services provider’s stock valued at $33,689,000 after purchasing an additional 15,933 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of Simply Good Foods in the 3rd quarter valued at approximately $403,000. Glenmede Trust Co. NA lifted its stake in shares of Simply Good Foods by 8.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 27,078 shares of the financial services provider’s stock valued at $935,000 after purchasing an additional 2,041 shares during the last quarter. Finally, Townsquare Capital LLC lifted its stake in shares of Simply Good Foods by 24.3% during the 3rd quarter. Townsquare Capital LLC now owns 67,850 shares of the financial services provider’s stock worth $2,342,000 after acquiring an additional 13,286 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Price Performance

SMPL opened at $35.80 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.05 and a current ratio of 5.19. Simply Good Foods has a 52-week low of $30.00 and a 52-week high of $43.00. The stock has a market capitalization of $3.59 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.12 and a beta of 0.61. The stock’s 50 day moving average price is $36.81 and its 200-day moving average price is $36.56.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $334.80 million for the quarter, compared to analysts’ expectations of $337.66 million. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, equities research analysts predict that Simply Good Foods will post 1.7 EPS for the current year.

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.