Stephens Trims Simply Good Foods (NASDAQ:SMPL) Target Price to $42.00

Simply Good Foods (NASDAQ:SMPL) had its target price lowered by Stephens from $44.00 to $42.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. DA Davidson increased their price objective on shares of Simply Good Foods from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Simply Good Foods in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Simply Good Foods currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Simply Good Foods Trading Up 0.4 %

NASDAQ:SMPL opened at $33.46 on Wednesday. The company’s 50 day moving average price is $33.29 and its 200-day moving average price is $34.74. Simply Good Foods has a 52 week low of $30.00 and a 52 week high of $43.00. The company has a quick ratio of 4.05, a current ratio of 5.19 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 2.22 and a beta of 0.63.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $375.70 million for the quarter, compared to analysts’ expectations of $373.07 million. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities research analysts forecast that Simply Good Foods will post 1.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the stock in a transaction on Wednesday, July 31st. The shares were 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 of the company’s stock, valued at $665,346.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Several institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in shares of Simply Good Foods by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 19,943 shares of the financial services provider’s stock worth $721,000 after buying an additional 348 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of Simply Good Foods by 4.9% in the 3rd 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. Cohen Capital Management Inc. grew its position in shares of Simply Good Foods by 0.5% in the 1st quarter. Cohen Capital Management Inc. now owns 115,470 shares of the financial services provider’s stock worth $3,929,000 after buying an additional 522 shares during the last quarter. Arizona State Retirement System grew its position in shares of Simply Good Foods by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,592 shares of the financial services provider’s stock worth $961,000 after buying an additional 533 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Simply Good Foods by 182.4% during the 2nd quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 549 shares during the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

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.