The Simply Good Foods Company (NASDAQ:SMPL) Given Consensus Rating of "Moderate Buy" by Brokerages

The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $39.71.

A number of brokerages recently weighed in on SMPL. DA Davidson reduced their target price on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Stifel Nicolaus reduced their price objective on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, June 27th. Mizuho increased their target price on shares of Simply Good Foods from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, April 11th. Morgan Stanley lifted their price target on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, April 10th. Finally, UBS Group set a $36.00 price objective on shares of Simply Good Foods and gave the stock a "neutral" rating in a research note on Tuesday.

Simply Good Foods Stock Performance

Shares of SMPL stock traded up $0.02 during trading hours on Monday, hitting $32.06. The company's stock had a trading volume of 754,442 shares, compared to its average volume of 968,300. The company has a 50 day moving average of $34.30 and a 200 day moving average of $35.72. The company has a current ratio of 4.27, a quick ratio of 2.70 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.24 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.96 and a beta of 0.68. Simply Good Foods has a 12-month low of $31.25 and a 12-month high of $40.53.

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

Insider Activity

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the company's stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Simply Good Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMPL. Quadrant Capital Group LLC lifted its stake in shares of Simply Good Foods by 13.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock worth $98,000 after acquiring an additional 300 shares in the last quarter. LPL Financial LLC increased its holdings in Simply Good Foods by 3.3% during the 4th quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider's stock worth $386,000 after purchasing an additional 315 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Simply Good Foods by 2.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 11,338 shares of the financial services provider's stock valued at $442,000 after purchasing an additional 324 shares in the last quarter. Xponance Inc. boosted its stake in shares of Simply Good Foods by 5.8% during the 1st quarter. Xponance Inc. now owns 7,325 shares of the financial services provider's stock valued at $253,000 after buying an additional 402 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of Simply Good Foods by 72.4% during 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 in the last quarter. 88.45% of the stock is 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.