Citigroup Has Lowered Expectations for Simply Good Foods (NASDAQ:SMPL) Stock Price

Simply Good Foods (NASDAQ:SMPL - Get Free Report) had its target price reduced by Citigroup from $43.00 to $40.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Citigroup's price target would suggest a potential upside of 22.16% from the stock's current price.

Several other brokerages have also issued reports on SMPL. UBS Group initiated coverage on shares of Simply Good Foods in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $41.00 price objective on the stock. Mizuho boosted their price target on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, April 11th. Morgan Stanley lifted their target price on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, April 10th. Wall Street Zen upgraded Simply Good Foods from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Finally, DA Davidson decreased their price objective on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.86.

Simply Good Foods Price Performance

Shares of SMPL opened at $32.74 on Wednesday. The business's 50-day moving average is $35.32 and its two-hundred day moving average is $36.25. The company has a market capitalization of $3.31 billion, a P/E ratio of 22.73, a P/E/G ratio of 2.77 and a beta of 0.72. Simply Good Foods has a fifty-two week low of $31.25 and a fifty-two week high of $40.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.70 and a current ratio of 4.27.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its quarterly 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 analyst estimates of $354.50 million. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The firm's revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Research analysts predict that Simply Good Foods will post 1.78 earnings per share for the current year.

Insider Transactions at Simply Good Foods

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

Institutional Trading of Simply Good Foods

Several large investors have recently modified their holdings of SMPL. Blue Trust Inc. boosted its holdings in Simply Good Foods by 42.9% in the fourth quarter. Blue Trust Inc. now owns 5,568 shares of the financial services provider's stock worth $217,000 after purchasing an additional 1,671 shares during the period. Rhumbline Advisers raised its holdings in shares of Simply Good Foods by 1.2% in the 4th quarter. Rhumbline Advisers now owns 253,799 shares of the financial services provider's stock worth $9,893,000 after purchasing an additional 2,990 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Simply Good Foods during the fourth quarter worth $318,000. CIBC Asset Management Inc purchased a new stake in shares of Simply Good Foods in the 4th quarter valued at approximately $249,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of Simply Good Foods by 34.9% in the 4th quarter. Handelsbanken Fonder AB now owns 990,500 shares of the financial services provider's stock valued at $38,610,000 after purchasing an additional 256,200 shares during the period. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Company Profile

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.

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