Morgan Stanley Begins Coverage on Simply Good Foods (NASDAQ:SMPL)

Investment analysts at Morgan Stanley assumed coverage on shares of Simply Good Foods (NASDAQ:SMPL) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set an “equal weight” rating and a $36.00 price target on the financial services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 8.40% from the stock’s current price.

Separately, Mizuho reduced their target price on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Simply Good Foods currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.56.

Simply Good Foods Trading Down 0.6 %

SMPL opened at $33.21 on Monday. Simply Good Foods has a 52 week low of $30.00 and a 52 week high of $40.53. The company has a quick ratio of 2.75, a current ratio of 4.23 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $36.30 and a 200-day simple moving average of $36.25. The firm has a market cap of $3.36 billion, a P/E ratio of 23.55, a P/E/G ratio of 3.23 and a beta of 0.65.

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

Institutional Trading of Simply Good Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Simply Good Foods in the 4th quarter valued at about $26,000. CIBC Private Wealth Group LLC increased its stake in Simply Good Foods by 72.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 445 shares during the last quarter. Quarry LP raised its holdings 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 worth $47,000 after purchasing an additional 533 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Simply Good Foods by 255.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,229 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Simply Good Foods by 215.6% in the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,201 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

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.