Simply Good Foods (NASDAQ:SMPL) Price Target Raised to $47.00

Simply Good Foods (NASDAQ:SMPL) had its target price lifted by equities researchers at Mizuho from $45.00 to $47.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price objective indicates a potential upside of 23.68% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday. DA Davidson upped their target price on shares of Simply Good Foods from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.22.

Simply Good Foods Price Performance

NASDAQ:SMPL opened at $38.00 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75. Simply Good Foods has a one year low of $31.25 and a one year high of $40.53. The company has a fifty day moving average price of $35.74 and a 200 day moving average price of $36.31. The stock has a market cap of $3.84 billion, a P/E ratio of 26.95, a PEG ratio of 3.23 and a beta of 0.63.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $359.70 million during the quarter, compared to analyst estimates of $354.50 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 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Analysts anticipate that Simply Good Foods will post 1.78 earnings per share for the current year.

Insider Activity at Simply Good Foods

In related news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the sale, the senior vice president now owns 12,839 shares of the company’s stock, valued at $478,252.75. This trade represents a 28.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SMPL. Quadrant Capital Group LLC raised its position in shares of Simply Good Foods by 13.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 300 shares during the last quarter. LPL Financial LLC increased its position in Simply Good Foods by 3.3% in the fourth quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 315 shares during the period. Pictet Asset Management Holding SA raised its holdings in Simply Good Foods by 2.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 11,338 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 324 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Simply Good Foods by 72.4% during 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 last quarter. Finally, Summit Investment Advisors Inc. lifted its position in Simply Good Foods by 5.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,549 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 480 shares during the period. 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.