Simply Good Foods (NASDAQ:SMPL) Price Target Raised to $41.00 at DA Davidson

Simply Good Foods (NASDAQ:SMPL) had its price objective raised by DA Davidson from $35.00 to $41.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on SMPL. Mizuho lowered their price target 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 raised their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

Simply Good Foods Stock Up 4.8 %

Shares of Simply Good Foods stock 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. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 3.23 and a beta of 0.63. The firm’s 50-day moving average is $35.74 and its two-hundred day moving average is $36.31. Simply Good Foods has a 1 year low of $31.25 and a 1 year high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 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 $359.70 million for the quarter, compared to analysts’ expectations of $354.50 million. During the same quarter last year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, research analysts expect that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

Insider Activity

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the business’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the transaction, the senior vice president now directly owns 12,839 shares in the company, valued at $478,252.75. The trade was a 28.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SMPL. FMR LLC boosted its stake in shares of Simply Good Foods by 86.5% in the fourth quarter. FMR LLC now owns 9,566,199 shares of the financial services provider’s stock valued at $372,890,000 after purchasing an additional 4,437,372 shares during the period. Norges Bank purchased a new position in Simply Good Foods in the 4th quarter valued at approximately $44,006,000. Boston Trust Walden Corp grew its stake in shares of Simply Good Foods by 31.3% in the fourth quarter. Boston Trust Walden Corp now owns 3,031,574 shares of the financial services provider’s stock worth $118,171,000 after acquiring an additional 722,963 shares in the last quarter. Wellington Management Group LLP increased its position in shares of 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 period. Finally, Boston Partners increased its holdings in Simply Good Foods by 109.0% during the 4th quarter. Boston Partners now owns 1,221,285 shares of the financial services provider’s stock worth $47,287,000 after purchasing an additional 637,038 shares during the period. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

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.