The Simply Good Foods Company (NASDAQ:SMPL) Receives $40.29 Average PT from Analysts

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $40.29.

A number of equities research analysts have weighed in on SMPL shares. Deutsche Bank Aktiengesellschaft raised their target price on Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a report on Friday, June 14th. DA Davidson raised their target price on Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Stifel Nicolaus raised their target price on Simply Good Foods from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. TD Cowen started coverage on Simply Good Foods in a report on Monday, April 22nd. They set a “hold” rating and a $34.00 price target for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $42.00 price target on shares of Simply Good Foods in a report on Thursday, April 11th.

Simply Good Foods Trading Up 0.3 %

Shares of NASDAQ:SMPL opened at $34.14 on Friday. The company has a market capitalization of $3.42 billion, a P/E ratio of 23.54, a P/E/G ratio of 2.41 and a beta of 0.61. Simply Good Foods has a 1 year low of $30.00 and a 1 year high of $43.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 4.05. The business’s 50 day simple moving average is $36.12 and its 200 day simple moving average is $35.78.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $334.80 million for the quarter, compared to the consensus estimate of $337.66 million. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, research analysts anticipate that Simply Good Foods will post 1.69 EPS for the current fiscal year.

Insider Activity

In other news, Director James D. White sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the sale, the director now directly owns 17,027 shares in the company, valued at approximately $649,920.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $34.44, for a total value of $36,437.52. Following the completion of the sale, the senior vice president now directly owns 19,319 shares in the company, valued at approximately $665,346.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James D. White sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the sale, the director now owns 17,027 shares of the company’s stock, valued at $649,920.59. The disclosure for this sale can be found here. 10.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Simply Good Foods

A number of hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc boosted its stake in Simply Good Foods by 72.8% during the 2nd quarter. TD Asset Management Inc now owns 76,430 shares of the financial services provider’s stock valued at $2,761,000 after purchasing an additional 32,200 shares during the last quarter. Natixis Advisors LLC boosted its stake in Simply Good Foods by 53.1% during the 2nd quarter. Natixis Advisors LLC now owns 27,197 shares of the financial services provider’s stock valued at $983,000 after purchasing an additional 9,436 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Simply Good Foods by 14.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,474,736 shares of the financial services provider’s stock valued at $53,282,000 after purchasing an additional 184,539 shares during the last quarter. Innealta Capital LLC acquired a new position in Simply Good Foods during the 2nd quarter valued at about $71,000. Finally, F M Investments LLC acquired a new position in Simply Good Foods during the 2nd quarter valued at about $526,000. 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.