Needham & Company LLC Reaffirms "Buy" Rating for Simply Good Foods (NASDAQ:SMPL)

Needham & Company LLC reissued their buy rating on shares of Simply Good Foods (NASDAQ:SMPL - Free Report) in a research note released on Tuesday, Benzinga reports. The firm currently has a $41.00 price objective on the financial services provider's stock.

Several other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft restated a hold rating and set a $42.00 price objective (up previously from $41.00) on shares of Simply Good Foods in a report on Tuesday, January 2nd. TD Cowen assumed coverage on Simply Good Foods in a research report on Monday, April 22nd. They set a hold rating and a $34.00 price target on the stock. 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. Morgan Stanley restated an overweight rating and issued a $42.00 target price on shares of Simply Good Foods in a research note on Thursday, April 11th. Finally, DA Davidson increased their target price on Simply Good Foods from $34.00 to $35.00 and gave the company a neutral rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $40.29.

Simply Good Foods Stock Performance

SMPL stock traded up $2.20 during trading hours on Tuesday, hitting $36.45. 2,578,379 shares of the stock were exchanged, compared to its average volume of 947,125. The company has a current ratio of 4.20, a quick ratio of 3.09 and a debt-to-equity ratio of 0.14. Simply Good Foods has a 12 month low of $30.00 and a 12 month high of $43.00. The firm has a market capitalization of $3.64 billion, a P/E ratio of 25.97, a P/E/G ratio of 2.54 and a beta of 0.69. The company has a 50-day simple moving average of $33.75 and a two-hundred day simple moving average of $36.78.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its quarterly earnings data on Thursday, April 4th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Simply Good Foods had a return on equity of 10.12% and a net margin of 11.12%. On average, analysts forecast that Simply Good Foods will post 1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Simply Good Foods by 121.5% during the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 457 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Simply Good Foods by 103.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider's stock valued at $34,000 after buying an additional 433 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Simply Good Foods during the 4th quarter valued at about $36,000. TFO Wealth Partners LLC raised its stake in shares of Simply Good Foods by 59,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider's stock valued at $47,000 after buying an additional 1,182 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Simply Good Foods by 18.8% during the 4th quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider's stock valued at $73,000 after acquiring an additional 292 shares during the period. Institutional investors own 88.45% of the company's stock.

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.