Simply Good Foods (NASDAQ:SMPL) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Simply Good Foods (NASDAQ:SMPL - Free Report) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other equities analysts also recently commented on SMPL. DA Davidson raised their price objective on shares of Simply Good Foods from $35.00 to $41.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Mizuho raised their price target on shares of Simply Good Foods from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday, April 11th. UBS Group began coverage on Simply Good Foods in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $41.00 price objective on the stock. Finally, Morgan Stanley increased their target price 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. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Simply Good Foods Stock Up 1.4%

Shares of NASDAQ SMPL traded up $0.49 during trading hours on Friday, hitting $34.90. The stock had a trading volume of 661,459 shares, compared to its average volume of 926,738. The company has a market capitalization of $3.53 billion, a P/E ratio of 24.75, a P/E/G ratio of 3.23 and a beta of 0.72. The firm's 50-day moving average price is $35.40 and its two-hundred day moving average price is $36.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.75 and a current ratio of 4.23. Simply Good Foods has a 52 week low of $31.25 and a 52 week high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.06. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The company had revenue of $359.70 million for the quarter, compared to analyst estimates of $354.50 million. During the same quarter last year, the firm posted $0.40 earnings per share. The company's quarterly revenue was up 15.2% compared to the same quarter last year. Analysts anticipate that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 5,000 shares of Simply Good Foods stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $37.25, for a total transaction of $186,250.00. Following the completion of the transaction, the senior vice president now owns 12,839 shares of the company's stock, valued at $478,252.75. The trade was a 28.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.35% of the stock is owned by company insiders.

Institutional Trading of Simply Good Foods

A number of hedge funds have recently bought and sold shares of SMPL. R Squared Ltd purchased a new position in Simply Good Foods in the 4th quarter worth approximately $26,000. CIBC Private Wealth Group LLC increased its stake 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 buying an additional 445 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Simply Good Foods during the 1st quarter valued at $54,000. Caitong International Asset Management Co. Ltd bought a new stake in Simply Good Foods during the 1st quarter valued at $55,000. Finally, Smartleaf Asset Management LLC boosted its position in Simply Good Foods by 255.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider's stock valued at $66,000 after buying an additional 1,229 shares during the period. Institutional investors 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.