The Simply Good Foods Company (NASDAQ:SMPL) Receives $42.00 Average PT from Analysts

The Simply Good Foods Company (NASDAQ:SMPL – Get Rating) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $42.00.

Several research firms have issued reports on SMPL. Cowen began coverage on shares of Simply Good Foods in a research report on Wednesday, December 14th. They issued a “market perform” rating and a $42.00 price objective for the company. UBS Group decreased their target price on shares of Simply Good Foods from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, January 6th. Citigroup decreased their target price on shares of Simply Good Foods from $50.00 to $46.00 in a research report on Sunday, January 8th. Needham & Company LLC initiated coverage on shares of Simply Good Foods in a research note on Tuesday, December 13th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Credit Suisse Group cut their price objective on shares of Simply Good Foods from $42.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, January 6th.

Simply Good Foods Stock Down 2.3 %

SMPL opened at $36.85 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.88 and a current ratio of 4.42. Simply Good Foods has a fifty-two week low of $29.21 and a fifty-two week high of $45.77. The firm’s fifty day moving average is $36.71 and its 200 day moving average is $35.78. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 30.20 and a beta of 0.78.

Simply Good Foods (NASDAQ:SMPL – Get Rating) last announced its quarterly earnings results on Thursday, January 5th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Simply Good Foods had a net margin of 10.38% and a return on equity of 10.75%. The business had revenue of $300.88 million for the quarter, compared to analysts’ expectations of $301.94 million. On average, sell-side analysts forecast that Simply Good Foods will post 1.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Simply Good Foods

Several institutional investors have recently bought and sold shares of SMPL. Ronald Blue Trust Inc. lifted its holdings in Simply Good Foods by 121.9% in the 4th quarter. Ronald Blue Trust Inc. now owns 770 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 423 shares in the last quarter. Quadrant Capital Group LLC increased its position in Simply Good Foods by 124.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 902 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 501 shares in the last quarter. Point72 Middle East FZE acquired a new stake in Simply Good Foods in the fourth quarter valued at approximately $30,000. Advisors Asset Management Inc. grew its position in Simply Good Foods by 35.9% in the third quarter. Advisors Asset Management Inc. now owns 1,295 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 342 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of Simply Good Foods by 9,214.3% during the fourth quarter. Meeder Asset Management Inc. now owns 1,304 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,290 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

About Simply Good Foods

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The Simply Good Foods Co is a consumer packaged food and beverage company, which engages in the development, marketing, and sale of nutritional food and snacking products. Its products include nutrition bars, ready-to-drink shakes, snacks, confectionery, and frozen meals under the Atkins and Quest brands.