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

Simply Good Foods (NASDAQ:SMPL - Free Report) had its price objective lowered by Stifel Nicolaus from $40.00 to $38.00 in a research report released on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the financial services provider's stock.

SMPL has been the subject of a number of other reports. Citigroup decreased their price target on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Mizuho lifted their target price on Simply Good Foods from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, April 11th. UBS Group started coverage on shares of Simply Good Foods in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $41.00 target price for the company. 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. Finally, Morgan Stanley upped their target price on shares of 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.43.

Simply Good Foods Trading Down 1.0%

Shares of NASDAQ SMPL traded down $0.32 during trading hours on Friday, hitting $31.59. 1,489,728 shares of the company traded hands, compared to its average volume of 965,269. The company's 50 day moving average price is $34.55 and its 200 day moving average price is $35.82. Simply Good Foods has a 12 month low of $31.25 and a 12 month high of $40.53. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 2.91 and a beta of 0.72. The company has a current ratio of 4.27, a quick ratio of 2.70 and a debt-to-equity ratio of 0.16.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. The company had revenue of $359.70 million for the quarter, compared to the consensus estimate of $354.50 million. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The firm's revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. On average, equities research analysts anticipate that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the transaction, the senior vice president directly owned 12,839 shares in the company, valued at approximately $478,252.75. This represents a 28.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its holdings in Simply Good Foods by 72.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 445 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Simply Good Foods in the 1st quarter valued at approximately $54,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Simply Good Foods during the first quarter worth $55,000. Smartleaf Asset Management LLC increased its position 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 worth $66,000 after acquiring an additional 1,229 shares during the period. Finally, Quarry LP raised its stake 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 valued at $69,000 after acquiring an additional 751 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other 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.