Simply Good Foods’ (SMPL) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Simply Good Foods (NASDAQ:SMPL) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $41.00 target price on the financial services provider’s stock.

Several other research firms have also recently commented on SMPL. DA Davidson increased their price target on Simply Good Foods from $34.00 to $35.00 and gave the company a neutral rating in a report on Tuesday. Mizuho reiterated a buy rating and set a $50.00 price target on shares of Simply Good Foods in a report on Friday, April 5th. Stifel Nicolaus dropped their price objective on shares of Simply Good Foods from $48.00 to $38.00 and set a buy rating for the company in a report on Thursday, March 28th. TD Cowen started coverage on shares of Simply Good Foods in a research note on Monday, April 22nd. They set a hold rating and a $34.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a hold rating and set a $42.00 price target (up previously from $41.00) on shares of Simply Good Foods in a report on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Simply Good Foods currently has a consensus rating of Moderate Buy and an average target price of $40.29.

Simply Good Foods Price Performance

SMPL traded up $0.31 on Tuesday, hitting $37.34. 789,358 shares of the company’s stock were exchanged, compared to its average volume of 950,538. Simply Good Foods has a fifty-two week low of $30.00 and a fifty-two week high of $43.00. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 2.26 and a beta of 0.65. The firm has a 50-day moving average price of $33.83 and a 200-day moving average price of $36.80. The company has a current ratio of 4.20, a quick ratio of 3.09 and a debt-to-equity ratio of 0.14.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, April 4th. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Simply Good Foods had a net margin of 11.12% and a return on equity of 10.12%. As a group, equities analysts anticipate that Simply Good Foods will post 1.71 earnings per share for the current year.

Institutional Trading of Simply Good Foods

Several institutional investors have recently added to or reduced their stakes in SMPL. Vanguard Group Inc. grew its stake in shares of Simply Good Foods by 2.4% in the third quarter. Vanguard Group Inc. now owns 10,992,510 shares of the financial services provider’s stock valued at $379,461,000 after buying an additional 259,144 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Simply Good Foods by 79.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 57,914 shares of the financial services provider’s stock worth $1,999,000 after purchasing an additional 25,650 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Simply Good Foods during the third quarter worth about $2,877,000. Diversified Trust Co boosted its stake in shares of Simply Good Foods by 7.5% in the fourth quarter. Diversified Trust Co now owns 20,793 shares of the financial services provider’s stock valued at $823,000 after purchasing an additional 1,453 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Simply Good Foods by 4.0% in the third quarter. Rhumbline Advisers now owns 259,500 shares of the financial services provider’s stock valued at $8,958,000 after purchasing an additional 10,073 shares in the last quarter. Institutional investors and hedge funds 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.