Brokerages Set $15.50 Price Target for Simply Good Foods Co (SMPL)

Shares of Simply Good Foods Co (NASDAQ:SMPL) have been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price objective of $15.50 for the company and are anticipating that the company will post $0.13 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Simply Good Foods an industry rank of 28 out of 265 based on the ratings given to its competitors.

SMPL has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Simply Good Foods from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Friday. Berenberg Bank initiated coverage on shares of Simply Good Foods in a research report on Thursday, November 16th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Goldman Sachs Group initiated coverage on shares of Simply Good Foods in a research report on Wednesday, October 4th. They issued a “buy” rating and a $16.00 target price for the company.

A number of hedge funds have recently added to or reduced their stakes in SMPL. Davidson Kempner Capital Management LP purchased a new stake in Simply Good Foods in the 3rd quarter worth approximately $8,483,000. Highbridge Capital Management LLC purchased a new stake in Simply Good Foods in the 3rd quarter worth approximately $5,781,000. Impala Asset Management LLC purchased a new stake in Simply Good Foods in the 3rd quarter worth approximately $3,356,000. Sii Investments Inc. WI purchased a new stake in Simply Good Foods in the 3rd quarter worth approximately $798,000. Finally, Acadian Asset Management LLC purchased a new stake in Simply Good Foods in the 4th quarter worth approximately $752,000. Institutional investors own 69.46% of the company’s stock.

Shares of Simply Good Foods (SMPL) traded up $0.10 during trading hours on Friday, hitting $14.15. 405,828 shares of the company traded hands, compared to its average volume of 248,844. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.20 and a quick ratio of 3.31. Simply Good Foods has a fifty-two week low of $10.30 and a fifty-two week high of $16.01.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Tuesday, January 9th. The financial services provider reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). research analysts expect that Simply Good Foods will post 0.52 earnings per share for the current year.

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About Simply Good Foods

The Simply Good Foods Company is a holding company. The Company through its subsidiaries, is engaged in developing, marketing and selling of branded nutritional foods and snacking products. The Company offers a range of products such as nutrition bars, ready to drink (RTD) shakes, snacks and confectionery products.

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