Simply Good Foods (NASDAQ:SMPL) Price Target Raised to $37.00

Simply Good Foods (NASDAQ:SMPL) had its price target upped by Morgan Stanley from $36.00 to $37.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Separately, Mizuho cut their target price on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating for the company in a research note 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. Based on data from MarketBeat.com, Simply Good Foods currently has an average rating of “Moderate Buy” and an average price target of $40.22.

Simply Good Foods Price Performance

Shares of SMPL stock opened at $38.00 on Thursday. The stock’s fifty day simple moving average is $35.74 and its 200 day simple moving average is $36.31. Simply Good Foods has a one year low of $31.25 and a one year high of $40.53. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 3.23 and a beta of 0.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. The company had revenue of $359.70 million for the quarter, compared to the consensus estimate of $354.50 million. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, analysts expect that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $37.25, for a total value of $186,250.00. Following the transaction, the senior vice president now owns 12,839 shares of the company’s stock, valued at $478,252.75. This represents a 28.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.35% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

A number of institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its holdings in shares of Simply Good Foods by 13.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider’s stock valued at $98,000 after buying an additional 300 shares during the period. LPL Financial LLC grew its position in Simply Good Foods by 3.3% in the fourth quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 315 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Simply Good Foods by 2.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 11,338 shares of the financial services provider’s stock valued at $442,000 after buying an additional 324 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Simply Good Foods by 72.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock worth $38,000 after buying an additional 445 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Simply Good Foods by 5.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,549 shares of the financial services provider’s stock worth $372,000 after buying an additional 480 shares during the last quarter. 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.