The Simply Good Foods Company (NASDAQ:SMPL) Receives $15.20 Consensus Price Target from Brokerages

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have received an average recommendation of “Hold” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $15.20.

SMPL has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $14.00 target price on shares of Simply Good Foods in a research note on Friday, July 10th. Mizuho set a $19.00 price objective on Simply Good Foods in a report on Monday, May 4th. DA Davidson reduced their price objective on Simply Good Foods from $39.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. BTIG Research assumed coverage on Simply Good Foods in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Finally, Zacks Research upgraded Simply Good Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th.

Simply Good Foods Price Performance

Shares of SMPL opened at $11.10 on Tuesday. The business’s 50-day moving average is $11.98 and its 200-day moving average is $13.78. 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 company has a market capitalization of $981.92 million, a price-to-earnings ratio of -5.12 and a beta of 0.15. Simply Good Foods has a fifty-two week low of $9.88 and a fifty-two week high of $30.36.

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

Insider Activity

In other news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $11.78 per share, with a total value of $117,800.00. Following the purchase, the director owned 111,743 shares in the company, valued at $1,316,332.54. This represents a 9.83% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Simply Good Foods

A number of institutional investors have recently added to or reduced their stakes in SMPL. Meeder Asset Management Inc. bought a new stake in Simply Good Foods in the second quarter worth approximately $94,000. BlackRock Inc. bought a new position in shares of Simply Good Foods during the 2nd quarter valued at $180,913,000. Pallas Capital Advisors LLC acquired a new stake in shares of Simply Good Foods in the 2nd quarter valued at $150,000. Deutsche Bank AG acquired a new stake in shares of Simply Good Foods in the 2nd quarter valued at $2,341,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Simply Good Foods in the 2nd quarter valued at $276,000. 88.45% of the stock is currently owned by institutional investors and hedge funds.

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.