Simply Good Foods (NASDAQ:SMPL) Earns Buy Rating from Needham & Company LLC

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

SMPL has been the subject of several other reports. DA Davidson lifted their target price on shares of Simply Good Foods from $34.00 to $35.00 and gave the company a neutral rating in a report on Tuesday, April 30th. Mizuho reiterated a buy rating and set a $50.00 target price on shares of Simply Good Foods in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a hold rating in a report on Friday, June 14th. TD Cowen started coverage on shares of Simply Good Foods in a report on Monday, April 22nd. They issued a hold rating and a $34.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on shares of 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $39.86.

Simply Good Foods Stock Up 1.2 %

NASDAQ SMPL opened at $36.13 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 3.09. The stock has a market capitalization of $3.61 billion, a PE ratio of 24.92, a PEG ratio of 2.12 and a beta of 0.65. Simply Good Foods has a 1 year low of $30.00 and a 1 year high of $43.00. The business’s 50-day moving average is $36.71 and its 200 day moving average is $36.61.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, June 27th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $334.80 million for 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 was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. Sell-side analysts forecast that Simply Good Foods will post 1.7 earnings per share for the current year.

Insider Activity

In other 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 completion of the sale, the director now owns 17,027 shares of the company’s stock, valued at approximately $649,920.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SMPL. Pacer Advisors Inc. boosted its holdings in Simply Good Foods by 121.5% in the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock worth $33,000 after buying an additional 457 shares during the period. Parkside Financial Bank & Trust lifted its stake in Simply Good Foods by 103.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 433 shares in the last quarter. Principal Securities Inc. purchased a new stake in Simply Good Foods in the 4th quarter worth $36,000. TFO Wealth Partners LLC lifted its stake in Simply Good Foods by 59,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Simply Good Foods by 18.8% in the 4th quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 292 shares in the last quarter. Institutional investors 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.