The Simply Good Foods Company (NASDAQ:SMPL) Receives $29.67 Consensus Target Price from Analysts

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have been given a consensus rating of “Hold” by the eleven brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $29.6667.

SMPL has been the subject of several recent research reports. Stifel Nicolaus set a $32.00 price target on Simply Good Foods in a report on Friday, October 24th. Zacks Research upgraded shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a research note on Friday, December 26th. Sanford C. Bernstein reissued an “outperform” rating on shares of Simply Good Foods in a research report on Friday, January 9th. Morgan Stanley set a $24.00 price target on shares of Simply Good Foods in a report on Monday, October 27th. Finally, UBS Group reiterated a “neutral” rating on shares of Simply Good Foods in a research note on Friday, January 9th.

Simply Good Foods Trading Down 1.0%

NASDAQ:SMPL opened at $20.93 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.01 and a quick ratio of 3.24. Simply Good Foods has a one year low of $18.45 and a one year high of $40.01. The company has a market cap of $1.94 billion, a PE ratio of 23.26, a PEG ratio of 2.72 and a beta of 0.27. The firm has a 50-day moving average of $19.68 and a 200-day moving average of $24.66.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, January 8th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $340.20 million during the quarter, compared to the consensus estimate of $337.64 million. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. As a group, equities research analysts expect that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Insider Activity at Simply Good Foods

In related news, CAO Timothy Allen Matthews sold 5,859 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $19.47, for a total transaction of $114,074.73. Following the completion of the sale, the chief accounting officer directly owned 18,065 shares of the company’s stock, valued at approximately $351,725.55. This trade represents a 24.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Bealer acquired 9,946 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was acquired at an average cost of $20.01 per share, for a total transaction of $199,019.46. Following the transaction, the chief financial officer owned 32,966 shares of the company’s stock, valued at approximately $659,649.66. The trade was a 43.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 8.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Simply Good Foods

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Simply Good Foods by 8.8% during the third quarter. Dimensional Fund Advisors LP now owns 4,288,680 shares of the financial services provider’s stock worth $106,443,000 after buying an additional 346,395 shares during the last quarter. State Street Corp increased its stake in shares of Simply Good Foods by 0.4% during the 2nd quarter. State Street Corp now owns 3,645,749 shares of the financial services provider’s stock worth $115,169,000 after purchasing an additional 14,089 shares during the last quarter. Boston Trust Walden Corp raised its holdings in shares of Simply Good Foods by 16.0% in the 3rd quarter. Boston Trust Walden Corp now owns 3,520,960 shares of the financial services provider’s stock worth $87,390,000 after purchasing an additional 486,837 shares during the period. Geode Capital Management LLC lifted its stake in Simply Good Foods by 2.5% in the second quarter. Geode Capital Management LLC now owns 2,310,861 shares of the financial services provider’s stock valued at $73,008,000 after purchasing an additional 55,727 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in Simply Good Foods by 7.0% during the third quarter. William Blair Investment Management LLC now owns 1,654,737 shares of the financial services provider’s stock valued at $41,071,000 after purchasing an additional 108,638 shares during the period. Institutional investors own 88.45% of the company’s stock.

About Simply Good Foods

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.