Simply Good Foods (NASDAQ:SMPL) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Simply Good Foods (NASDAQ:SMPL) in a note issued to investors on Monday, MarketBeat.com reports. The brokerage set an “equal weight” rating and a $36.00 price target on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 8.40% from the stock’s current price.

Separately, Mizuho decreased their price objective on Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Simply Good Foods currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.56.

Simply Good Foods Stock Performance

Shares of Simply Good Foods stock opened at $33.21 on Monday. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 3.23 and a beta of 0.65. The firm’s fifty day simple moving average is $36.30 and its 200-day simple moving average is $36.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75. Simply Good Foods has a 12 month low of $30.00 and a 12 month high of $40.53.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Wednesday, January 8th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 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 $341.30 million for the quarter, compared to analyst estimates of $347.32 million. During the same period in the previous year, the business posted $0.43 earnings per share. Simply Good Foods’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities analysts forecast that Simply Good Foods will post 1.78 earnings per share for the current year.

Hedge Funds Weigh In On Simply Good Foods

Large investors have recently modified their holdings of the business. California State Teachers Retirement System grew its holdings in Simply Good Foods by 13.0% during the fourth quarter. California State Teachers Retirement System now owns 101,388 shares of the financial services provider’s stock worth $3,952,000 after acquiring an additional 11,678 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Simply Good Foods during the 4th quarter worth $206,000. PharVision Advisers LLC acquired a new position in shares of Simply Good Foods during the 4th quarter worth $208,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Simply Good Foods by 17.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 202,533 shares of the financial services provider’s stock valued at $7,895,000 after purchasing an additional 30,434 shares in the last quarter. Finally, iSAM Funds UK Ltd lifted its stake in shares of Simply Good Foods by 36.6% in the fourth quarter. iSAM Funds UK Ltd now owns 10,042 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 2,693 shares during the period. 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.