Analysts Set The Simply Good Foods Company (NASDAQ:SMPL) Target Price at $17.30

The Simply Good Foods Company (NASDAQ:SMPL) has been assigned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $15.20.

A number of brokerages recently weighed in on SMPL. DA Davidson cut their price objective on Simply Good Foods from $39.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Simply Good Foods in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $14.00 price objective on shares of Simply Good Foods in a report on Friday. Zacks Research upgraded shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Stifel Nicolaus lowered their target price on shares of Simply Good Foods from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 10th.

Simply Good Foods Price Performance

NASDAQ SMPL opened at $12.35 on Friday. Simply Good Foods has a fifty-two week low of $10.21 and a fifty-two week high of $34.19. The stock’s 50-day moving average is $12.27 and its two-hundred day moving average is $14.92. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10. The firm has a market cap of $1.09 billion, a P/E ratio of -5.69 and a beta of 0.13.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $356.98 million during the quarter, compared to analysts’ expectations of $332.99 million. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%.The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, analysts anticipate that Simply Good Foods will post 1.54 earnings per share for the current fiscal year.

Insider Transactions at Simply Good Foods

In other news, Director James M. Kilts purchased 80,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was bought at an average cost of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the acquisition, the director directly owned 172,854 shares of the company’s stock, valued at approximately $2,141,661.06. The trade was a 86.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clayton C. Daley, Jr. acquired 10,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the purchase, the director directly owned 111,743 shares of the company’s stock, valued at $1,316,332.54. This trade represents a 9.83% increase in their position. The disclosure for this purchase is available in the SEC filing. 8.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Simply Good Foods

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Simply Good Foods by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock valued at $213,479,000 after purchasing an additional 249,405 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Simply Good Foods by 8.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,288,680 shares of the financial services provider’s stock worth $106,443,000 after purchasing an additional 346,395 shares during the last quarter. State Street Corp grew its position in Simply Good Foods by 0.4% in 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 increased its holdings in shares of Simply Good Foods by 10.0% during the 1st quarter. Boston Trust Walden Corp now owns 3,635,464 shares of the financial services provider’s stock worth $52,169,000 after purchasing an additional 330,330 shares during the period. Finally, William Blair Investment Management LLC increased its holdings in shares of Simply Good Foods by 28.4% during the 4th quarter. William Blair Investment Management LLC now owns 2,124,640 shares of the financial services provider’s stock worth $42,663,000 after purchasing an additional 469,903 shares during the period. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Company Profile

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.