Mizuho Lowers Simply Good Foods (NASDAQ:SMPL) Price Target to $45.00

Simply Good Foods (NASDAQ:SMPL) had its price objective cut by equities researchers at Mizuho from $48.00 to $45.00 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 30.97% from the company’s previous close.

SMPL has been the topic of a number of other research reports. Stephens dropped their price target on 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 price objective on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Three equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.22.

Simply Good Foods Stock Down 4.1 %

SMPL opened at $34.36 on Friday. Simply Good Foods has a 1-year low of $30.00 and a 1-year high of $42.37. The stock’s fifty day simple moving average is $38.26 and its 200 day simple moving average is $35.42. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.47 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 3.51 and a beta of 0.67.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results 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 10.23% and a net margin of 10.46%. The business had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $347.32 million. During the same quarter in the prior year, the business earned $0.43 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts expect that Simply Good Foods will post 1.77 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joseph Scalzo sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total value of $899,750.00. Following the transaction, the director now owns 139,204 shares in the company, valued at approximately $5,009,951.96. This trade represents a 15.22 % 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, insider Timothy Richard Kraft sold 76,761 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $37.60, for a total value of $2,886,213.60. Following the completion of the transaction, the insider now owns 40,068 shares in the company, valued at $1,506,556.80. The trade was a 65.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,869 shares of company stock worth $12,139,570. Company insiders own 9.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its position in Simply Good Foods by 1.8% in the second quarter. American Century Companies Inc. now owns 19,943 shares of the financial services provider’s stock valued at $721,000 after acquiring an additional 348 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of Simply Good Foods by 4.9% during the third quarter. Fulton Bank N.A. now owns 9,536 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 443 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Simply Good Foods by 1.9% during the third quarter. Stifel Financial Corp now owns 26,688 shares of the financial services provider’s stock valued at $928,000 after purchasing an additional 498 shares in the last quarter. Cynosure Group LLC boosted its stake in shares of Simply Good Foods by 4.9% during the third quarter. Cynosure Group LLC now owns 10,659 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 500 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Simply Good Foods by 3.9% during the third quarter. HighTower Advisors LLC now owns 13,504 shares of the financial services provider’s stock valued at $473,000 after purchasing an additional 501 shares in the last quarter. 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.