DA Davidson Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $38.00

Simply Good Foods (NASDAQ:SMPL - Get Free Report) had its price target reduced by DA Davidson from $42.00 to $38.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. DA Davidson's price objective would suggest a potential upside of 12.92% from the stock's current price.

A number of other analysts also recently commented on SMPL. Morgan Stanley boosted their price objective on Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 10th. Wall Street Zen raised Simply Good Foods from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. UBS Group assumed coverage on Simply Good Foods in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $41.00 price objective on the stock. Finally, Mizuho boosted their price objective on Simply Good Foods from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday, April 11th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Simply Good Foods currently has a consensus rating of "Moderate Buy" and an average price target of $40.67.

Simply Good Foods Stock Performance

Shares of SMPL traded up $0.48 during trading hours on Monday, reaching $33.65. 156,408 shares of the company's stock traded hands, compared to its average volume of 937,764. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 3.23 and a beta of 0.72. 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 has a twelve month low of $31.25 and a twelve month high of $40.53. The business's fifty day simple moving average is $35.47 and its two-hundred day simple moving average is $36.54.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.06. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The company had revenue of $359.70 million for the quarter, compared to the consensus estimate of $354.50 million. During the same quarter in the previous year, the business earned $0.40 EPS. The company's quarterly revenue was up 15.2% compared to the same quarter last year. Analysts predict that Simply Good Foods will post 1.78 earnings per share for the current year.

Insider Activity at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of Simply Good Foods stock in a transaction on Friday, April 11th. The stock was sold at an average price of $37.25, for a total transaction of $186,250.00. Following the transaction, the senior vice president now owns 12,839 shares in the company, valued at approximately $478,252.75. The trade was a 28.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SMPL. CIBC Private Wealth Group LLC grew its holdings in shares of Simply Good Foods by 72.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider's stock valued at $38,000 after buying an additional 445 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Simply Good Foods during the first quarter valued at $54,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Simply Good Foods during the first quarter valued at $55,000. Smartleaf Asset Management LLC grew its holdings in shares of Simply Good Foods by 255.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider's stock valued at $66,000 after buying an additional 1,229 shares in the last quarter. Finally, Quarry LP grew its stake in Simply Good Foods by 59.7% in the first quarter. Quarry LP now owns 2,009 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

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.

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