Simply Good Foods (NASDAQ:SMPL) Price Target Raised to $38.00

Simply Good Foods (NASDAQ:SMPL) had its target price increased by equities research analysts at DA Davidson from $35.00 to $38.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s target price suggests a potential upside of 4.68% from the stock’s current price.

A number of other research firms have also recently issued reports on SMPL. Morgan Stanley reiterated an “overweight” rating and issued a $42.00 target price on shares of Simply Good Foods in a research note on Thursday, April 11th. Mizuho reiterated a “buy” rating and issued a $50.00 target price on shares of Simply Good Foods in a research note on Friday, April 5th. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 target price on shares of Simply Good Foods in a research note on Friday. TD Cowen began coverage on shares of Simply Good Foods in a report on Monday, April 22nd. They issued a “hold” rating and a $34.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Simply Good Foods from $36.00 to $37.00 and gave the company a “hold” rating in a report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.29.

Simply Good Foods Price Performance

SMPL traded up $0.17 during midday trading on Monday, reaching $36.30. 26,125 shares of the company’s stock were exchanged, compared to its average volume of 866,143. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.12 and a beta of 0.65. The company has a quick ratio of 4.05, a current ratio of 5.19 and a debt-to-equity ratio of 0.14. Simply Good Foods has a one year low of $30.00 and a one year high of $43.00. The business has a 50-day simple moving average of $36.71 and a two-hundred day simple moving average of $36.61.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, June 27th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Simply Good Foods had a net margin of 11.49% and a return on equity of 10.28%. The firm had revenue of $334.80 million during the quarter, compared to analysts’ expectations of $337.66 million. During the same quarter last year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts predict that Simply Good Foods will post 1.7 EPS for the current year.

Insider Activity

In other news, Director James D. White sold 4,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $152,680.00. Following the completion of the transaction, the director now owns 17,027 shares of the company’s stock, valued at approximately $649,920.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Simply Good Foods

Several institutional investors have recently added to or reduced their stakes in SMPL. Vanguard Group Inc. lifted its position in Simply Good Foods by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,099,351 shares of the financial services provider’s stock worth $377,711,000 after buying an additional 174,157 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Simply Good Foods by 27.7% during the 1st quarter. Champlain Investment Partners LLC now owns 3,939,494 shares of the financial services provider’s stock worth $134,061,000 after buying an additional 854,550 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Simply Good Foods by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,892,217 shares of the financial services provider’s stock worth $114,535,000 after buying an additional 82,235 shares in the last quarter. Principal Financial Group Inc. lifted its position in Simply Good Foods by 17.1% during the 4th quarter. Principal Financial Group Inc. now owns 1,930,744 shares of the financial services provider’s stock worth $76,457,000 after buying an additional 281,603 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its holdings in shares of Simply Good Foods by 7.4% in the 1st quarter. Congress Asset Management Co. MA now owns 1,313,011 shares of the financial services provider’s stock valued at $44,682,000 after purchasing an additional 90,154 shares during the period. 88.45% of the stock is owned by 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.