The Simply Good Foods Company (NASDAQ:SMPL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

The Simply Good Foods Company (NASDAQ:SMPL) has received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $40.22.

Several brokerages recently weighed in on SMPL. Mizuho cut their price target on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday. Stephens cut their price objective on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Citigroup decreased their target price on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

Simply Good Foods Stock Performance

SMPL opened at $34.36 on Monday. The company has a market cap of $3.47 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 3.51 and a beta of 0.67. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $38.26 and its 200-day moving average price is $35.41. Simply Good Foods has a 52-week low of $30.00 and a 52-week high of $42.37.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The business had revenue of $341.30 million for the quarter, compared to the consensus estimate of $347.32 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Simply Good Foods will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling at Simply Good Foods

In related news, Director Joseph Scalzo sold 147,200 shares of Simply Good Foods stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $36.86, for a total value of $5,425,792.00. Following the sale, the director now owns 141,439 shares of the company’s stock, valued at approximately $5,213,441.54. This trade represents a 51.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy Richard Kraft sold 21,209 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.50, for a total transaction of $774,128.50. Following the transaction, the insider now directly owns 40,068 shares in the company, valued at approximately $1,462,482. The trade was a 34.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,869 shares of company stock valued at $12,139,570. Corporate insiders own 9.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Simply Good Foods during the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC raised its stake in Simply Good Foods by 236.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,241 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Simply Good Foods by 215.6% in the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,201 shares in the last quarter. KBC Group NV grew its holdings in shares of Simply Good Foods by 31.9% during the third quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock worth $107,000 after buying an additional 746 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Simply Good Foods in the second quarter valued at about $159,000. 88.45% of the stock is 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.