Simply Good Foods (NASDAQ:SMPL) Sees Unusually-High Trading Volume

Shares of The Simply Good Foods Company (NASDAQ:SMPL) saw unusually-high trading volume on Tuesday . Approximately 559,989 shares were traded during trading, a decline of 38% from the previous session’s volume of 906,675 shares.The stock last traded at $33.00 and had previously closed at $32.91.

Wall Street Analysts Forecast Growth

SMPL has been the subject of several research analyst reports. Mizuho reaffirmed a “buy” rating and set a $50.00 price target on shares of Simply Good Foods in a research note on Friday, April 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $42.00 price target on shares of Simply Good Foods in a research note on Thursday, April 11th. Stifel Nicolaus reduced their price objective on shares of Simply Good Foods from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. DA Davidson reduced their price objective on shares of Simply Good Foods from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, April 5th. Finally, Needham & Company LLC reduced their price objective on shares of Simply Good Foods from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.14.

Simply Good Foods Stock Up 2.9 %

The stock has a market capitalization of $3.39 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.45 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.20 and a quick ratio of 3.09. The business’s fifty day moving average price is $33.90 and its two-hundred day moving average price is $36.75.

Insider Activity

In other Simply Good Foods news, Director Robert G. Montgomery sold 2,500 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $39.36, for a total value of $98,400.00. Following the sale, the director now directly owns 52,738 shares of the company’s stock, valued at $2,075,767.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.98% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

Hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted 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 acquiring an additional 457 shares in the last quarter. Parkside Financial Bank & Trust boosted 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 acquiring an additional 433 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Simply Good Foods during the 4th quarter worth about $36,000. TFO Wealth Partners LLC boosted its stake in shares of Simply Good Foods by 59,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,182 shares in the last quarter. Finally, Ronald Blue Trust Inc. boosted its stake in shares of Simply Good Foods by 713.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,554 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 1,363 shares in the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Simply Good Foods Company Profile

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.