Simply Good Foods (NASDAQ:SMPL) Given New $38.00 Price Target at DA Davidson

Simply Good Foods (NASDAQ:SMPL) had its target price hoisted by equities researchers at DA Davidson from $35.00 to $38.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective would suggest a potential upside of 6.15% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Friday, June 14th. Mizuho reiterated a “buy” rating and issued a $50.00 price objective on shares of Simply Good Foods in a research note on Friday, April 5th. Morgan Stanley reissued an “overweight” rating and issued a $42.00 target price on shares of Simply Good Foods in a report on Thursday, April 11th. TD Cowen assumed coverage on Simply Good Foods in a report on Monday, April 22nd. They issued a “hold” rating and a $34.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on Simply Good Foods from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Three investment 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.29.

Simply Good Foods Stock Performance

Shares of Simply Good Foods stock opened at $35.80 on Monday. The stock has a market cap of $3.59 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.12 and a beta of 0.61. The business has a fifty day simple moving average of $36.81 and a 200-day simple moving average of $36.56. The company has a quick ratio of 4.05, a current ratio of 5.19 and a debt-to-equity ratio of 0.14. Simply Good Foods has a 12 month low of $30.00 and a 12 month high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $334.80 million during the quarter, compared to analysts’ expectations of $337.66 million. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. On average, sell-side analysts anticipate that Simply Good Foods will post 1.7 EPS for the current fiscal year.

Insider Transactions at Simply Good Foods

In other Simply Good Foods news, Director James D. White sold 4,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $38.17, for a total transaction of $152,680.00. Following the sale, the director now owns 17,027 shares of the company’s stock, valued at $649,920.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Simply Good Foods in the 4th quarter valued at about $39,991,000. Champlain Investment Partners LLC increased its stake in shares of Simply Good Foods by 27.7% during the 1st quarter. Champlain Investment Partners LLC now owns 3,939,494 shares of the financial services provider’s stock worth $134,061,000 after purchasing an additional 854,550 shares during the last quarter. Boston Partners purchased a new stake in shares of Simply Good Foods during the 4th quarter worth approximately $20,242,000. Principal Financial Group Inc. increased its stake in shares of Simply Good Foods by 17.1% during the 4th quarter. Principal Financial Group Inc. now owns 1,930,744 shares of the financial services provider’s stock worth $76,457,000 after purchasing an additional 281,603 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Simply Good Foods by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,992,510 shares of the financial services provider’s stock worth $379,461,000 after buying an additional 259,144 shares during the period. Institutional investors 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.