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

Simply Good Foods (NASDAQ:SMPL) had its price target reduced by equities researchers at Stifel Nicolaus from $40.00 to $38.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 19.08% from the company’s current price.

A number of other research analysts have also recently commented on SMPL. UBS Group assumed coverage on Simply Good Foods in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $41.00 price objective on the stock. Mizuho upped their price objective on Simply Good Foods from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, April 11th. Wall Street Zen cut Simply Good Foods from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Citigroup decreased their price objective on Simply Good Foods from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, June 18th. Finally, DA Davidson decreased their price objective on Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, June 9th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.43.

Simply Good Foods Trading Up 0.5%

Shares of Simply Good Foods stock opened at $31.91 on Friday. The stock has a market cap of $3.22 billion, a P/E ratio of 22.16, a P/E/G ratio of 2.91 and a beta of 0.72. The stock’s 50 day simple moving average is $34.55 and its 200-day simple moving average is $35.85. Simply Good Foods has a 1-year low of $31.25 and a 1-year high of $40.53. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.27 and a quick ratio of 2.70.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. The business had revenue of $359.70 million for the quarter, compared to analysts’ expectations of $354.50 million. Simply Good Foods had a return on equity of 10.39% and a net margin of 10.31%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. Analysts predict that Simply Good Foods will post 1.78 EPS for the current fiscal 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 business’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $37.25, for a total value of $186,250.00. Following the sale, the senior vice president now owns 12,839 shares of the company’s stock, valued at $478,252.75. The trade was a 28.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.35% of the stock is owned by corporate insiders.

Institutional Trading of Simply Good Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its position in Simply Good Foods by 33.2% in the first quarter. Voya Investment Management LLC now owns 79,703 shares of the financial services provider’s stock valued at $2,749,000 after purchasing an additional 19,887 shares during the period. Rhumbline Advisers increased its position in shares of Simply Good Foods by 0.8% during the first quarter. Rhumbline Advisers now owns 255,703 shares of the financial services provider’s stock worth $8,819,000 after acquiring an additional 1,904 shares during the period. Strs Ohio purchased a new stake in shares of Simply Good Foods during the first quarter worth $114,000. Intech Investment Management LLC increased its position in shares of Simply Good Foods by 43.5% during the first quarter. Intech Investment Management LLC now owns 62,005 shares of the financial services provider’s stock worth $2,139,000 after acquiring an additional 18,801 shares during the period. Finally, Bayforest Capital Ltd increased its position in shares of Simply Good Foods by 13.8% during the first quarter. Bayforest Capital Ltd now owns 4,599 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 557 shares during the period. Hedge funds and other institutional investors own 88.45% of the company’s stock.

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.