Simply Good Foods (NASDAQ:SMPL) Now Covered by Morgan Stanley

Morgan Stanley assumed coverage on shares of Simply Good Foods (NASDAQ:SMPL) in a report released on Monday, MarketBeat reports. The firm issued an equal weight rating and a $36.00 price target on the financial services provider’s stock.

Separately, Mizuho dropped their price objective on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Four 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.56.

Simply Good Foods Stock Performance

NASDAQ SMPL opened at $33.40 on Monday. 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 stock’s 50 day simple moving average is $36.31 and its 200-day simple moving average is $36.24. The company has a market cap of $3.37 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. Simply Good Foods has a 1-year low of $30.00 and a 1-year high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The company had revenue of $341.30 million for the quarter, compared to analyst estimates of $347.32 million. During the same quarter last year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts anticipate that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Institutional Trading of Simply Good Foods

Hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new stake in Simply Good Foods in the third quarter valued at $27,391,000. Tidal Investments LLC increased its holdings in Simply Good Foods by 42.7% in the 3rd quarter. Tidal Investments LLC now owns 51,664 shares of the financial services provider’s stock valued at $1,796,000 after purchasing an additional 15,455 shares during the last quarter. FMR LLC raised its position in Simply Good Foods by 20.0% in the third quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock valued at $178,329,000 after purchasing an additional 855,070 shares during the period. Smartleaf Asset Management LLC lifted its stake in Simply Good Foods by 255.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,229 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Simply Good Foods during the third quarter worth about $2,368,000. Institutional investors and hedge funds own 88.45% of the company’s stock.

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.