Simply Good Foods (NASDAQ:SMPL) Price Target Cut to $38.00

Simply Good Foods (NASDAQ:SMPL) had its price objective dropped by research analysts at Stifel Nicolaus from $48.00 to $38.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Stifel Nicolaus’ target price suggests a potential upside of 12.09% from the stock’s previous close.

SMPL has been the subject of a number of other research reports. Needham & Company LLC upped their target price on shares of Simply Good Foods from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, January 5th. DA Davidson reduced their price target on shares of Simply Good Foods from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $42.00 price target (up from $41.00) on shares of Simply Good Foods in a report on Tuesday, January 2nd. Finally, Morgan Stanley reduced their price target on shares of Simply Good Foods from $46.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.75.

Simply Good Foods Stock Performance

Shares of SMPL traded up $0.01 during mid-day trading on Thursday, hitting $33.90. 183,447 shares of the company traded hands, compared to its average volume of 841,836. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.46 and a current ratio of 5.02. The stock has a 50-day moving average price of $35.93 and a two-hundred day moving average price of $36.93. Simply Good Foods has a 1 year low of $31.06 and a 1 year high of $43.00. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 2.45 and a beta of 0.70.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, January 4th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Simply Good Foods had a net margin of 10.66% and a return on equity of 9.95%. The firm had revenue of $308.70 million during the quarter, compared to analysts’ expectations of $309.26 million. During the same period in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that Simply Good Foods will post 1.7 earnings per share for the current year.

Insider Activity

In other news, SVP Susan Hunsberger sold 35,010 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $40.63, for a total value of $1,422,456.30. Following the completion of the sale, the senior vice president now directly owns 30,768 shares of the company’s stock, valued at $1,250,103.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Susan Hunsberger sold 35,010 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $40.63, for a total transaction of $1,422,456.30. Following the completion of the sale, the senior vice president now directly owns 30,768 shares of the company’s stock, valued at $1,250,103.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Stuart E. Jr. Heflin sold 1,048 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $40.45, for a total value of $42,391.60. Following the sale, the senior vice president now directly owns 21,084 shares of the company’s stock, valued at $852,847.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,326 shares of company stock valued at $2,877,965. 10.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Simply Good Foods

Institutional investors have recently made changes to their positions in the stock. Belpointe Asset Management LLC boosted its position in shares of Simply Good Foods by 235.7% during the 1st quarter. Belpointe Asset Management LLC now owns 621 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 436 shares in the last quarter. Point72 Middle East FZE acquired a new position in shares of Simply Good Foods during the 4th quarter worth $30,000. Pacer Advisors Inc. raised its stake in shares of Simply Good Foods by 121.5% during the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock worth $33,000 after buying an additional 457 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Simply Good Foods by 103.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock worth $34,000 after buying an additional 433 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Simply Good Foods during the 4th quarter worth $36,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

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.