DA Davidson Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $38.00

Simply Good Foods (NASDAQ:SMPL) had its price objective lowered by DA Davidson from $42.00 to $38.00 in a report published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on SMPL. Mizuho raised their target price on Simply Good Foods from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, April 11th. Wall Street Zen raised Simply Good Foods from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Morgan Stanley raised their target price on Simply Good Foods from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, April 10th. Finally, UBS Group assumed coverage on Simply Good Foods in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $41.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.67.

Simply Good Foods Trading Down 2.7%

Shares of NASDAQ:SMPL opened at $33.05 on Monday. The company has a market capitalization of $3.34 billion, a P/E ratio of 23.44, a P/E/G ratio of 3.23 and a beta of 0.72. Simply Good Foods has a 1 year low of $31.25 and a 1 year high of $40.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.23 and a quick ratio of 2.75. The business’s 50 day simple moving average is $35.43 and its 200 day simple moving average is $36.47.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $359.70 million for the quarter, compared to the consensus estimate of $354.50 million. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, research analysts anticipate that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $37.25, for a total transaction of $186,250.00. Following the completion of the transaction, the senior vice president now directly owns 12,839 shares of the company’s stock, valued at $478,252.75. This trade represents a 28.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.35% of the stock is owned by corporate insiders.

Institutional Trading of Simply Good Foods

A number of large investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC raised its stake in shares of Simply Good Foods by 72.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 445 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Simply Good Foods during the 1st quarter worth $54,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Simply Good Foods in the 1st quarter worth $55,000. Smartleaf Asset Management LLC raised its holdings in shares of Simply Good Foods by 255.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,229 shares during the last quarter. Finally, Quarry LP increased its stake in Simply Good Foods by 59.7% in the 1st quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock valued at $69,000 after buying an additional 751 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

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.