Citigroup Has Lowered Expectations for Simply Good Foods (NASDAQ:SMPL) Stock Price

Simply Good Foods (NASDAQ:SMPLGet Free Report) had its target price reduced by analysts at Citigroup from $43.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective suggests a potential upside of 21.99% from the stock’s current price.

SMPL has been the subject of several other reports. UBS Group started coverage on shares of Simply Good Foods in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $41.00 price objective for the company. Wall Street Zen raised shares of Simply Good Foods from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. DA Davidson cut their price objective on shares of Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, June 9th. Morgan Stanley raised their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, April 10th. Finally, Mizuho raised their price target on shares of Simply Good Foods from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Simply Good Foods has an average rating of “Moderate Buy” and a consensus price target of $40.86.

Get Our Latest Analysis on Simply Good Foods

Simply Good Foods Stock Up 0.0%

SMPL opened at $32.79 on Wednesday. The company has a 50 day moving average of $35.18 and a 200 day moving average of $36.18. The company has a market cap of $3.31 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.75 and a beta of 0.72. Simply Good Foods has a 12 month low of $31.25 and a 12 month high of $40.53. The company has a current ratio of 4.27, a quick ratio of 2.70 and a debt-to-equity ratio of 0.16.

Simply Good Foods (NASDAQ:SMPLGet Free Report) last released its quarterly earnings data on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The company had revenue of $359.70 million during the quarter, compared to the consensus estimate of $354.50 million. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. Simply Good Foods’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. On average, sell-side analysts expect that Simply Good Foods will post 1.78 EPS for the current year.

Insider Buying and Selling at Simply Good Foods

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the completion of the transaction, the senior vice president now directly owns 12,839 shares of the company’s stock, valued at $478,252.75. This trade represents a 28.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 9.35% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Simply Good Foods by 50.2% during the 4th quarter. Wells Fargo & Company MN now owns 45,685 shares of the financial services provider’s stock valued at $1,781,000 after buying an additional 15,275 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Simply Good Foods during the 4th quarter valued at $206,000. Assenagon Asset Management S.A. purchased a new stake in shares of Simply Good Foods during the 1st quarter valued at $1,437,000. Smartleaf Asset Management LLC raised its position in shares of Simply Good Foods by 255.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,229 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Simply Good Foods by 0.8% during the 1st quarter. Rhumbline Advisers now owns 255,703 shares of the financial services provider’s stock valued at $8,819,000 after buying an additional 1,904 shares in the last quarter. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Simply Good Foods (NASDAQ:SMPL)

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