Simply Good Foods (NASDAQ:SMPL) Stock Price Up 5.1% – Should You Buy?

The Simply Good Foods Company (NASDAQ:SMPL) shares were up 5.1% during trading on Monday . The stock traded as high as $39.59 and last traded at $39.40. Approximately 836,277 shares traded hands during trading, a decline of 38% from the average daily volume of 1,347,765 shares. The stock had previously closed at $37.50.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Stephens decreased 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. Citigroup decreased their price target on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Mizuho dropped their price objective on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.22.

Simply Good Foods Trading Up 0.8 %

The company has a quick ratio of 2.75, a current ratio of 4.23 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average is $38.09 and its 200 day moving average is $35.38. The stock has a market cap of $3.88 billion, a PE ratio of 27.27, a P/E/G ratio of 3.24 and a beta of 0.67.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.49 EPS for the quarter, topping the consensus estimate 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 in the previous year, the company earned $0.43 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Insider Activity

In other Simply Good Foods news, Director Joseph Scalzo sold 25,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total transaction of $899,750.00. Following the sale, the director now owns 139,204 shares in the company, valued at approximately $5,009,951.96. This represents a 15.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy Richard Kraft sold 76,761 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $37.60, for a total value of $2,886,213.60. Following the completion of the transaction, the insider now directly owns 40,068 shares of the company’s stock, valued at approximately $1,506,556.80. This trade represents a 65.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,869 shares of company stock worth $12,139,570 over the last 90 days. 9.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Simply Good Foods

Hedge funds have recently modified their holdings of the company. Boston Trust Walden Corp acquired a new position in Simply Good Foods in the third quarter valued at $80,270,000. FMR LLC increased its stake in shares of Simply Good Foods by 20.0% during the 3rd quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock valued at $178,329,000 after acquiring an additional 855,070 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Simply Good Foods during the 3rd quarter worth about $27,391,000. Weiss Asset Management LP acquired a new stake in shares of Simply Good Foods in the third quarter worth approximately $12,051,000. Finally, Schwartz Investment Counsel Inc. purchased a new stake in Simply Good Foods in the third quarter valued at approximately $7,562,000. 88.45% of the stock is owned by institutional investors and hedge funds.

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.