The Simply Good Foods Company (NASDAQ:SMPL) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

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Shares of The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $39.8750.

A number of analysts have recently issued reports on the stock. DA Davidson dropped their price target on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Citigroup dropped their price objective on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. UBS Group set a $36.00 price objective on shares of Simply Good Foods and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Sanford C. Bernstein set a $45.00 price objective on shares of Simply Good Foods and gave the stock an "outperform" rating in a report on Friday, July 11th. Finally, Stifel Nicolaus dropped their price objective on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, June 27th.

Insiders Place Their Bets

In other news, CEO Geoff E. Tanner purchased 6,050 shares of the stock in a transaction on Wednesday, July 23rd. The shares were acquired at an average price of $33.11 per share, with a total value of $200,315.50. Following the completion of the acquisition, the chief executive officer directly owned 98,190 shares of the company's stock, valued at $3,251,070.90. This trade represents a 6.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Simply Good Foods

Several large investors have recently added to or reduced their stakes in SMPL. LPL Financial LLC lifted its holdings in Simply Good Foods by 3.3% during the fourth quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider's stock valued at $386,000 after purchasing an additional 315 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Simply Good Foods by 50.2% during the fourth quarter. Wells Fargo & Company MN now owns 45,685 shares of the financial services provider's stock valued at $1,781,000 after purchasing an additional 15,275 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Simply Good Foods by 5.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 163,180 shares of the financial services provider's stock valued at $6,361,000 after purchasing an additional 8,041 shares in the last quarter. Bank of Montreal Can lifted its holdings in Simply Good Foods by 13.6% during the fourth quarter. Bank of Montreal Can now owns 11,272 shares of the financial services provider's stock valued at $439,000 after purchasing an additional 1,349 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Simply Good Foods by 2.9% during the fourth quarter. Invesco Ltd. now owns 402,372 shares of the financial services provider's stock valued at $15,684,000 after purchasing an additional 11,197 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company's stock.

Simply Good Foods Stock Performance

Shares of NASDAQ SMPL opened at $28.31 on Tuesday. The firm's 50-day moving average price is $31.74 and its 200-day moving average price is $34.31. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14. The company has a market cap of $2.85 billion, a PE ratio of 19.80, a PEG ratio of 2.79 and a beta of 0.59. Simply Good Foods has a 52-week low of $28.14 and a 52-week high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The firm had revenue of $380,956 billion for the quarter, compared to the consensus estimate of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. As a group, analysts anticipate that Simply Good Foods will post 1.78 EPS for the current year.

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.

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