Citigroup Lowers Simply Good Foods (NASDAQ:SMPL) Price Target to $43.00

Simply Good Foods (NASDAQ:SMPL) had its price target lowered by equities researchers at Citigroup from $46.00 to $43.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target suggests a potential upside of 17.13% from the company’s previous close.

Separately, Stephens dropped their price objective on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.78.

Simply Good Foods Stock Performance

Shares of SMPL opened at $36.71 on Thursday. The company has a 50-day moving average of $34.23 and a two-hundred day moving average of $34.97. The stock has a market cap of $3.68 billion, a P/E ratio of 26.60, a PEG ratio of 3.23 and a beta of 0.64. Simply Good Foods has a 12-month low of $30.00 and a 12-month high of $43.00. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $375.70 million for the quarter, compared to analyst estimates of $373.07 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. Simply Good Foods’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, research analysts predict that Simply Good Foods will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Timothy Allen Matthews sold 5,325 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $37.31, for a total transaction of $198,675.75. Following the completion of the sale, the chief accounting officer now directly owns 17,063 shares in the company, valued at $636,620.53. This represents a 23.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Brian K. Ratzan sold 50,000 shares of Simply Good Foods stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $37.38, for a total value of $1,869,000.00. Following the completion of the transaction, the director now owns 2,049,387 shares in the company, valued at $76,606,086.06. The trade was a 2.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,108 shares of company stock worth $9,253,356. 10.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Simply Good Foods

A number of large investors have recently modified their holdings of the company. Quarry LP acquired a new stake in Simply Good Foods during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC increased its position in shares of Simply Good Foods by 182.4% in the second quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 549 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Simply Good Foods by 236.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,241 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Simply Good Foods in the 2nd quarter valued at $71,000. Finally, KBC Group NV lifted its holdings in shares of Simply Good Foods by 31.9% during the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 746 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

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.