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

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have been given an average rating of “Moderate Buy” by the nine brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $40.22.

A number of research firms have weighed in on SMPL. Stephens decreased their price target on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup decreased their target price on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Mizuho increased their price target on shares of Simply Good Foods from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th.

Insider Transactions at Simply Good Foods

In other news, Director Joseph Scalzo sold 147,200 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $36.86, for a total transaction of $5,425,792.00. Following the sale, the director now owns 141,439 shares in the company, valued at approximately $5,213,441.54. This represents a 51.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Timothy Allen Matthews sold 5,325 shares of Simply Good Foods stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $37.31, for a total value of $198,675.75. Following the completion of the transaction, the chief accounting officer now directly owns 17,063 shares of the company’s stock, valued at $636,620.53. This represents a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 327,869 shares of company stock valued at $12,139,570. Corporate insiders own 9.35% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP bought a new position in Simply Good Foods in the second quarter valued at about $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of Simply Good Foods by 236.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,241 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Simply Good Foods by 215.6% during the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,201 shares during the period. KBC Group NV raised its stake in shares of Simply Good Foods by 31.9% during the third quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock worth $107,000 after buying an additional 746 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Simply Good Foods during the second quarter worth approximately $159,000. 88.45% of the stock is owned by institutional investors and hedge funds.

Simply Good Foods Stock Up 1.3 %

Shares of SMPL opened at $39.50 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.75 and a current ratio of 4.05. The company has a 50-day simple moving average of $38.05 and a 200-day simple moving average of $35.43. Simply Good Foods has a 52 week low of $30.00 and a 52 week high of $43.00. The firm has a market capitalization of $3.99 billion, a P/E ratio of 28.62, a P/E/G ratio of 3.51 and a beta of 0.67.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The firm had revenue of $375.70 million during the quarter, compared to analysts’ expectations of $373.07 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts expect that Simply Good Foods will post 1.77 earnings per share for the current year.

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.