Simply Good Foods (NASDAQ:SMPL) Given "Overweight" Rating at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Simply Good Foods (NASDAQ:SMPL - Free Report) in a report published on Thursday, Benzinga reports. Morgan Stanley currently has a $42.00 price target on the financial services provider's stock.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft restated a hold rating and issued a $42.00 price target (up previously from $41.00) on shares of Simply Good Foods in a research note on Tuesday, January 2nd. DA Davidson dropped their price target on shares of Simply Good Foods from $39.00 to $34.00 and set a neutral rating on the stock in a research note on Friday, April 5th. Needham & Company LLC lowered their price objective on shares of Simply Good Foods from $45.00 to $41.00 and set a buy rating on the stock in a research note on Friday, April 5th. Mizuho reiterated a buy rating and set a $50.00 price objective on shares of Simply Good Foods in a research note on Friday, April 5th. Finally, Stifel Nicolaus lowered their price objective on shares of Simply Good Foods from $48.00 to $38.00 and set a buy rating on the stock in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Simply Good Foods presently has an average rating of Moderate Buy and an average target price of $41.17.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL traded down $0.26 during trading hours on Thursday, hitting $32.14. The stock had a trading volume of 533,968 shares, compared to its average volume of 919,301. The stock's fifty day simple moving average is $34.57 and its 200 day simple moving average is $36.84. Simply Good Foods has a 1-year low of $30.00 and a 1-year high of $43.00. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.41 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.09 and a current ratio of 4.20.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, Director Robert G. Montgomery sold 2,500 shares of Simply Good Foods stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $39.36, for a total value of $98,400.00. Following the transaction, the director now owns 52,738 shares in the company, valued at $2,075,767.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 10.98% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SMPL. Belpointe Asset Management LLC boosted its stake in Simply Good Foods by 235.7% in the 1st quarter. Belpointe Asset Management LLC now owns 621 shares of the financial services provider's stock worth $25,000 after purchasing an additional 436 shares during the period. Point72 Middle East FZE acquired a new position in Simply Good Foods in the 4th quarter worth approximately $30,000. Pacer Advisors Inc. boosted its stake in Simply Good Foods by 121.5% in the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider's stock worth $33,000 after purchasing an additional 457 shares during the period. Parkside Financial Bank & Trust boosted its stake in Simply Good Foods by 103.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider's stock worth $34,000 after purchasing an additional 433 shares during the period. Finally, Principal Securities Inc. acquired a new position in Simply Good Foods in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds 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.