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

The Simply Good Foods Company (NASDAQ:SMPL) has earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.56.

Several brokerages have weighed in on SMPL. Morgan Stanley initiated coverage on shares of Simply Good Foods in a research note on Monday. They issued an “equal weight” rating and a $36.00 target price for the company. 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 report on Friday, January 10th.

Institutional Trading of Simply Good Foods

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System increased its holdings in Simply Good Foods by 13.0% in the fourth quarter. California State Teachers Retirement System now owns 101,388 shares of the financial services provider’s stock valued at $3,952,000 after buying an additional 11,678 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Simply Good Foods during the fourth quarter worth $206,000. PharVision Advisers LLC purchased a new position in Simply Good Foods during the fourth quarter valued at $208,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Simply Good Foods by 17.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 202,533 shares of the financial services provider’s stock valued at $7,895,000 after buying an additional 30,434 shares in the last quarter. Finally, iSAM Funds UK Ltd boosted its stake in shares of Simply Good Foods by 36.6% in the fourth quarter. iSAM Funds UK Ltd now owns 10,042 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 2,693 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Price Performance

SMPL opened at $33.36 on Friday. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $36.30 and its 200-day simple moving average is $36.23. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 3.23 and a beta of 0.65. Simply Good Foods has a 12-month low of $30.00 and a 12-month high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly 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. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The firm had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $347.32 million. During the same quarter in the prior year, the company earned $0.43 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that Simply Good Foods will post 1.78 earnings per share for the current fiscal 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.