Simply Good Foods (NASDAQ:SMPL) Price Target Lowered to $43.00 at Citigroup

Simply Good Foods (NASDAQ:SMPL) had its price target reduced by Citigroup from $46.00 to $43.00 in a report issued on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the financial services provider’s stock.

Separately, Stephens dropped their price objective on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.78.

Simply Good Foods Stock Performance

Shares of SMPL stock traded down $0.65 during trading hours on Thursday, reaching $36.67. 203,298 shares of the company’s stock were exchanged, compared to its average volume of 878,200. The business has a fifty day moving average price of $34.15 and a 200-day moving average price of $34.95. The stock has a market capitalization of $3.68 billion, a P/E ratio of 27.04, a P/E/G ratio of 3.23 and a beta of 0.64. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23. Simply Good Foods has a fifty-two week low of $30.00 and a fifty-two week high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The company had revenue of $375.70 million during the quarter, compared to the consensus estimate of $373.07 million. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Analysts predict that Simply Good Foods will post 1.76 EPS for the current fiscal year.

Insider Activity

In related news, Director Joseph Scalzo sold 25,000 shares of Simply Good Foods stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total transaction of $899,750.00. Following the sale, the director now directly owns 139,204 shares in the company, valued at $5,009,951.96. This trade represents a 15.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian K. Ratzan sold 50,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $37.38, for a total value of $1,869,000.00. Following the completion of the sale, the director now owns 2,049,387 shares of the company’s stock, valued at $76,606,086.06. The trade was a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,108 shares of company stock worth $9,253,356. Insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Boston Trust Walden Corp bought a new position in shares of Simply Good Foods in the 3rd quarter worth $80,270,000. Armistice Capital LLC bought a new position in shares of Simply Good Foods in the second quarter valued at $34,582,000. FMR LLC grew its holdings in shares of Simply Good Foods by 20.0% during the third quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock valued at $178,329,000 after buying an additional 855,070 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Simply Good Foods by 27.7% during the first quarter. Champlain Investment Partners LLC now owns 3,939,494 shares of the financial services provider’s stock worth $134,061,000 after acquiring an additional 854,550 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Simply Good Foods during the third quarter worth about $27,391,000. 88.45% of the stock is owned by institutional investors.

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.