Stephens Trims Simply Good Foods (NASDAQ:SMPL) Target Price to $42.00

Simply Good Foods (NASDAQ:SMPL) had its price target reduced by analysts at Stephens from $44.00 to $42.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 29.83% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Simply Good Foods in a research note on Friday, June 28th. DA Davidson raised their price objective on Simply Good Foods from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Simply Good Foods has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Simply Good Foods Stock Down 0.5 %

NASDAQ:SMPL traded down $0.16 during trading hours on Wednesday, hitting $32.35. The stock had a trading volume of 40,332 shares, compared to its average volume of 874,550. The company has a current ratio of 5.19, a quick ratio of 4.05 and a debt-to-equity ratio of 0.14. Simply Good Foods has a 1-year low of $30.00 and a 1-year high of $43.00. The business has a 50 day simple moving average of $33.29 and a two-hundred day simple moving average of $34.75. The company has a market cap of $3.24 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 2.27 and a beta of 0.63.

Insiders Place Their Bets

In related news, SVP Stuart E. Jr. Heflin sold 1,058 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $34.44, for a total value of $36,437.52. Following the transaction, the senior vice president now directly owns 19,319 shares of the company’s stock, valued at approximately $665,346.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.98% of the company’s stock.

Institutional Trading of Simply Good Foods

A number of institutional investors and hedge funds have recently modified their holdings of SMPL. Quarry LP acquired a new stake in Simply Good Foods in the 2nd quarter valued at $30,000. GAMMA Investing LLC grew its holdings in shares of Simply Good Foods by 182.4% during the second quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock worth $31,000 after buying an additional 549 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Simply Good Foods by 236.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,241 shares in the last quarter. Innealta Capital LLC acquired a new position in Simply Good Foods during the second quarter valued at approximately $71,000. Finally, Headlands Technologies LLC acquired a new position in Simply Good Foods during the first quarter valued at approximately $131,000. 88.45% of the stock is currently owned by 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.