Simply Good Foods (NASDAQ:SMPL) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Simply Good Foods (NASDAQ:SMPL) in a research report released on Monday morning, MarketBeat reports. The firm issued an equal weight rating and a $36.00 target price on the financial services provider’s stock.

Separately, Mizuho cut their price objective on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Simply Good Foods presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.56.

Simply Good Foods Price Performance

Shares of NASDAQ:SMPL opened at $33.36 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.75 and a current ratio of 4.23. The business’s fifty day moving average price is $36.30 and its two-hundred day moving average price is $36.23. The stock has a market cap of $3.37 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. Simply Good Foods has a one year low of $30.00 and a one year high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data 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. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The business had revenue of $341.30 million for the quarter, compared to analyst estimates of $347.32 million. During the same quarter last year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts forecast that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Simply Good Foods

Hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in Simply Good Foods by 86.5% during the fourth quarter. FMR LLC now owns 9,566,199 shares of the financial services provider’s stock worth $372,890,000 after purchasing an additional 4,437,372 shares during the period. Norges Bank purchased a new position in shares of Simply Good Foods in the 4th quarter worth $44,006,000. Massachusetts Financial Services Co. MA acquired a new position in Simply Good Foods in the third quarter valued at $27,391,000. Boston Trust Walden Corp grew its position in Simply Good Foods by 31.3% during the fourth quarter. Boston Trust Walden Corp now owns 3,031,574 shares of the financial services provider’s stock valued at $118,171,000 after acquiring an additional 722,963 shares during the period. Finally, Wellington Management Group LLP increased its stake in Simply Good Foods by 23.5% during the fourth quarter. Wellington Management Group LLP now owns 3,546,239 shares of the financial services provider’s stock worth $138,232,000 after acquiring an additional 674,618 shares during the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

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.