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

Simply Good Foods (NASDAQ:SMPL - Get Free Report) had its price objective reduced by equities research analysts at Mizuho from $47.00 to $43.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Mizuho's price objective would indicate a potential upside of 28.90% from the company's previous close.

SMPL has been the subject of several other reports. Citigroup decreased their price objective on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Wall Street Zen cut shares of Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. 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 report on Monday, June 9th. UBS Group set a $36.00 price objective on shares of Simply Good Foods and gave the company a "neutral" rating in a report on Tuesday, July 1st. Finally, Stifel Nicolaus decreased their price objective on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a report on Friday, June 27th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.88.

Simply Good Foods Stock Up 0.9%

Simply Good Foods stock traded up $0.29 during trading hours on Tuesday, hitting $33.36. The stock had a trading volume of 1,341,607 shares, compared to its average volume of 1,104,368. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.35 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 3.24 and a beta of 0.68. Simply Good Foods has a 12-month low of $30.47 and a 12-month high of $40.53. The stock's 50-day moving average price is $33.63 and its 200-day moving average price is $35.28.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $380,956 billion during the quarter, compared to analysts' expectations of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. Equities research analysts anticipate that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Simply Good Foods

Hedge funds have recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its position in shares of Simply Good Foods by 72.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider's stock worth $38,000 after purchasing an additional 445 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Simply Good Foods in the first quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Simply Good Foods in the first quarter worth approximately $55,000. Quarry LP boosted its position in shares of Simply Good Foods by 59.7% in the first quarter. Quarry LP now owns 2,009 shares of the financial services provider's stock worth $69,000 after purchasing an additional 751 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in shares of Simply Good Foods by 13.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock worth $98,000 after acquiring an additional 300 shares during the last quarter. 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.