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

Key Points

• The Simply Good Foods Company (NASDAQ:SMPL) has received an average consensus rating of "Moderate Buy" from eight brokerages, with a twelve-month price target averaging $39.88.
• Insider trading showed CEO Geoff E. Tanner acquired 6,050 shares at an average price of $33.11, increasing his ownership by 6.57%.
• Hedge funds significantly increased their ownership in Simply Good Foods, with 88.45% of the stock now held by institutional investors.

Shares of The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight analysts that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $39.8750.

A number of equities research analysts have weighed in on the stock. 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. DA Davidson cut 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 report on Monday, June 9th. Wall Street Zen cut shares of Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. 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, Citigroup cut 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.

Simply Good Foods Trading Up 1.3%

Shares of NASDAQ SMPL traded up $0.35 during midday trading on Friday, hitting $26.88. 1,188,674 shares of the company traded hands, compared to its average volume of 1,178,626. Simply Good Foods has a 12-month low of $26.13 and a 12-month high of $40.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.46 and a current ratio of 3.95. The stock has a 50-day moving average price of $29.83 and a 200 day moving average price of $32.89. The firm has a market cap of $2.70 billion, a P/E ratio of 18.80, a P/E/G ratio of 2.45 and a beta of 0.59.

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, meeting the consensus estimate of $0.51. The company had revenue of $380.96 million for the quarter, compared to analysts' expectations of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. Simply Good Foods's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 earnings per share. As a group, analysts expect that Simply Good Foods will post 1.78 earnings per share for the current year.

Insider Activity

In other news, CEO Geoff E. Tanner bought 6,050 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were purchased at an average price of $33.11 per share, for a total transaction of $200,315.50. Following the completion of the purchase, the chief executive officer owned 98,190 shares in the company, valued at approximately $3,251,070.90. This represents a 6.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.35% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SMPL. EverSource Wealth Advisors LLC lifted its stake in shares of Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock worth $31,000 after buying an additional 538 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Simply Good Foods in the first quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Simply Good Foods in the first quarter worth approximately $55,000. Quarry LP lifted 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 worth $69,000 after buying an additional 751 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Simply Good Foods in the second quarter worth approximately $87,000. 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.