The Simply Good Foods Company (NASDAQ:SMPL) Receives $19.82 Average Price Target from Brokerages

The Simply Good Foods Company (NASDAQ:SMPL) has earned a consensus rating of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.80.

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Simply Good Foods from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, April 10th. Stifel Nicolaus reduced their price target on Simply Good Foods from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Morgan Stanley reduced their price target on Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, April 10th. Jefferies Financial Group upgraded Simply Good Foods from a “hold” rating to a “buy” rating and reduced their price target for the company from $23.00 to $22.00 in a report on Monday, March 16th. Finally, Stephens restated an “equal weight” rating and set a $14.00 price target (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th.

Simply Good Foods Stock Performance

NASDAQ SMPL opened at $12.63 on Monday. Simply Good Foods has a 1-year low of $10.21 and a 1-year high of $34.19. The company has a current ratio of 5.06, a quick ratio of 2.87 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $12.07 and a 200-day moving average of $15.68. The firm has a market cap of $1.14 billion, a PE ratio of -10.61 and a beta of 0.17.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. Simply Good Foods had a positive return on equity of 9.72% and a negative net margin of 7.46%.The company had revenue of $326.01 million during the quarter, compared to analyst estimates of $345.08 million. During the same quarter in the previous year, the company posted $0.46 EPS. Simply Good Foods’s revenue for the quarter was down 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that Simply Good Foods will post 1.54 EPS for the current year.

Insider Transactions at Simply Good Foods

In other news, Director Clayton C. Daley, Jr. bought 10,000 shares of Simply Good Foods stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the acquisition, the director owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. The trade was a 9.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James M. Kilts bought 80,000 shares of Simply Good Foods stock in a transaction on Thursday, April 23rd. The shares were purchased at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the acquisition, the director directly owned 172,854 shares in the company, valued at approximately $2,141,661.06. This trade represents a 86.16% increase in their position. The disclosure for this purchase is available in the SEC filing. 8.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in shares of Simply Good Foods by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 88,477 shares of the financial services provider’s stock worth $2,795,000 after buying an additional 383 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after buying an additional 538 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Simply Good Foods by 3.4% in the 1st quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider’s stock worth $656,000 after buying an additional 617 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Simply Good Foods by 4.1% in the 4th quarter. Cerity Partners LLC now owns 18,000 shares of the financial services provider’s stock worth $361,000 after buying an additional 701 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of Simply Good Foods by 3.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 23,120 shares of the financial services provider’s stock worth $730,000 after buying an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

About Simply Good Foods

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.