Analysts Set The Simply Good Foods Company (NASDAQ:SMPL) Target Price at $39.88

The Simply Good Foods Company (NASDAQ:SMPL) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $38.75.

Several research analysts recently issued reports on SMPL shares. Stifel Nicolaus cut their target price on Simply Good Foods from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, June 27th. Sanford C. Bernstein set a $45.00 target price on Simply Good Foods and gave the company an “outperform” rating in a research report on Friday, July 11th. Mizuho cut their target price on Simply Good Foods from $47.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 15th. Citigroup cut their target price on Simply Good Foods from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, June 18th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Simply Good Foods in a research report on Wednesday.

Insiders Place Their Bets

In other Simply Good Foods news, CEO Geoff E. Tanner acquired 6,050 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were acquired at an average price of $33.11 per share, with a total value of $200,315.50. Following the completion of the transaction, the chief executive officer owned 98,190 shares in the company, valued at approximately $3,251,070.90. This trade represents a 6.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 9.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SMPL. EverSource Wealth Advisors LLC lifted its position in shares of Simply Good Foods by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after buying an additional 538 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Simply Good Foods during the 1st quarter valued at $54,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Simply Good Foods during the 1st quarter valued at $55,000. Quarry LP lifted its position in shares of Simply Good Foods by 59.7% during the 1st quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock valued at $69,000 after buying an additional 751 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Simply Good Foods during the 2nd quarter valued at $87,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Trading Down 2.4%

NASDAQ SMPL opened at $23.99 on Wednesday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 2.62 and a beta of 0.53. Simply Good Foods has a 52 week low of $23.50 and a 52 week high of $40.53. The business has a 50 day moving average price of $27.39 and a 200-day moving average price of $31.81. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $380.96 million for the quarter, compared to analysts’ expectations of $381.68 million. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%.Simply Good Foods’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, equities analysts expect that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

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.