Brokerages Set The Simply Good Foods Company (NASDAQ:SMPL) PT at $40.22

The Simply Good Foods Company (NASDAQ:SMPL) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $40.22.

SMPL has been the topic of a number of recent research reports. Stephens dropped their price target on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup cut their target price on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Mizuho lowered their price target on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday.

Insiders Place Their Bets

In related news, CAO Timothy Allen Matthews sold 5,325 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $37.31, for a total transaction of $198,675.75. Following the completion of the transaction, the chief accounting officer now directly owns 17,063 shares in the company, valued at $636,620.53. The trade was a 23.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timothy Richard Kraft sold 76,761 shares of the stock in a transaction dated 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 sale, the insider now directly owns 40,068 shares in the company, valued at $1,506,556.80. This represents a 65.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,869 shares of company stock valued at $12,139,570. Insiders own 9.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its holdings in shares of Simply Good Foods by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 19,943 shares of the financial services provider’s stock valued at $721,000 after purchasing an additional 348 shares in the last quarter. Fulton Bank N.A. grew its position in Simply Good Foods by 4.9% during the third quarter. Fulton Bank N.A. now owns 9,536 shares of the financial services provider’s stock valued at $332,000 after buying an additional 443 shares during the period. Stifel Financial Corp increased its holdings in Simply Good Foods by 1.9% in the third quarter. Stifel Financial Corp now owns 26,688 shares of the financial services provider’s stock valued at $928,000 after buying an additional 498 shares in the last quarter. Cynosure Group LLC raised its position in shares of Simply Good Foods by 4.9% in the third quarter. Cynosure Group LLC now owns 10,659 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 500 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of Simply Good Foods by 3.9% during the 3rd quarter. HighTower Advisors LLC now owns 13,504 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 501 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL opened at $34.36 on Monday. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23. Simply Good Foods has a 12 month low of $30.00 and a 12 month high of $42.37. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 3.51 and a beta of 0.67. The firm’s 50-day moving average is $38.26 and its 200 day moving average is $35.44.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.06. The business had revenue of $341.30 million during the quarter, compared to the consensus estimate of $347.32 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. Research analysts predict that Simply Good Foods will post 1.77 EPS for the current year.

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.