Simply Good Foods (NASDAQ:SMPL) Given New $38.00 Price Target at Stifel Nicolaus

Simply Good Foods (NASDAQ:SMPL - Get Free Report) had its target price dropped by research analysts at Stifel Nicolaus from $40.00 to $38.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Stifel Nicolaus' target price indicates a potential upside of 19.20% from the stock's current price.

Several other brokerages have also weighed in on SMPL. DA Davidson dropped their price objective on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday, June 9th. Mizuho increased their target price on Simply Good Foods from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, April 11th. UBS Group initiated coverage on shares of Simply Good Foods in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $41.00 target price for the company. Morgan Stanley boosted their price target on Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Thursday, April 10th. Finally, Wall Street Zen downgraded shares of Simply Good Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Simply Good Foods presently has a consensus rating of "Moderate Buy" and an average target price of $40.50.

Simply Good Foods Stock Up 0.4%

Simply Good Foods stock traded up $0.13 during mid-day trading on Friday, reaching $31.88. The company's stock had a trading volume of 346,214 shares, compared to its average volume of 959,505. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. Simply Good Foods has a 12 month low of $31.25 and a 12 month high of $40.53. The business's 50 day simple moving average is $34.66 and its 200 day simple moving average is $35.93. 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 posted its quarterly earnings results 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 10.39% and a net margin of 10.31%. The business had revenue of $359.70 million during the quarter, compared to analysts' expectations of $354.50 million. During the same quarter last year, the company posted $0.40 earnings per share. Simply Good Foods's quarterly revenue was up 15.2% on a year-over-year basis. As a group, research analysts anticipate that Simply Good Foods will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.35% of the company's stock.

Hedge Funds Weigh In On Simply Good Foods

Several hedge funds and other institutional investors have recently bought and sold shares of SMPL. FMR LLC boosted its position in shares of Simply Good Foods by 86.5% during the 4th quarter. FMR LLC now owns 9,566,199 shares of the financial services provider's stock worth $372,890,000 after purchasing an additional 4,437,372 shares in the last quarter. Norges Bank purchased a new position in shares of Simply Good Foods in the 4th quarter worth about $44,006,000. Wellington Management Group LLP grew its position in Simply Good Foods by 23.5% during the fourth quarter. Wellington Management Group LLP now owns 3,546,239 shares of the financial services provider's stock valued at $138,232,000 after buying an additional 674,618 shares during the period. Boston Partners raised its stake in shares of Simply Good Foods by 109.0% in the fourth quarter. Boston Partners now owns 1,221,285 shares of the financial services provider's stock valued at $47,287,000 after buying an additional 637,038 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Simply Good Foods by 52.1% during the first quarter. Victory Capital Management Inc. now owns 1,539,208 shares of the financial services provider's stock valued at $53,087,000 after purchasing an additional 527,089 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.