Brokerages Set The Simply Good Foods Company (NASDAQ:SMPL) Target Price at $40.22

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have been given an average rating of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $39.56.

Several equities research analysts recently commented on the company. Mizuho reduced their price objective on Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Morgan Stanley initiated coverage on shares of Simply Good Foods in a report on Monday. They set an “equal weight” rating and a $36.00 price objective for the company.

Institutional Trading of Simply Good Foods

Several large investors have recently added to or reduced their stakes in SMPL. R Squared Ltd purchased a new position in shares of Simply Good Foods during the 4th quarter worth $26,000. CIBC Private Wealth Group LLC raised its holdings in Simply Good Foods by 72.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 445 shares during the period. Quarry LP lifted its position in Simply Good Foods by 64.7% during the third quarter. Quarry LP now owns 1,357 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 533 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Simply Good Foods by 255.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,229 shares during the period. Finally, GAMMA Investing LLC increased its position in Simply Good Foods by 215.6% in the fourth quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,201 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

Simply Good Foods Stock Up 1.2 %

Shares of Simply Good Foods stock opened at $33.40 on Friday. The company has a 50-day simple moving average of $36.31 and a two-hundred day simple moving average of $36.24. The stock has a market capitalization of $3.37 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. Simply Good Foods has a 52-week low of $30.00 and a 52-week high of $40.53. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.75 and a current ratio of 4.23.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $341.30 million during the quarter, compared to analyst estimates of $347.32 million. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS. On average, analysts anticipate that Simply Good Foods will post 1.78 EPS for the current fiscal year.

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.