Simply Good Foods (NASDAQ:SMPL) Now Covered by Morgan Stanley

Morgan Stanley initiated coverage on shares of Simply Good Foods (NASDAQ:SMPL) in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $36.00 price target on the financial services provider’s stock.

Separately, Mizuho lowered their price objective on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Simply Good Foods presently has an average rating of “Moderate Buy” and a consensus price target of $39.56.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $33.36 on Monday. The firm’s fifty day simple moving average is $36.30 and its 200 day simple moving average is $36.23. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20. Simply Good Foods has a twelve month low of $30.00 and a twelve month high of $40.53. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 3.23 and a beta of 0.65.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Wednesday, January 8th. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. Simply Good Foods had a return on equity of 10.25% and a net margin of 10.40%. The company had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $347.32 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that Simply Good Foods will post 1.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA bought a new position in Simply Good Foods in the third quarter worth about $27,391,000. Tidal Investments LLC raised its position in shares of Simply Good Foods by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 51,664 shares of the financial services provider’s stock worth $1,796,000 after purchasing an additional 15,455 shares during the period. FMR LLC lifted its holdings in shares of Simply Good Foods by 20.0% in the 3rd quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock worth $178,329,000 after purchasing an additional 855,070 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Simply Good Foods by 255.5% during the 4th 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 period. Finally, Edgestream Partners L.P. bought a new position in Simply Good Foods during the 3rd quarter worth $2,368,000. 88.45% of the stock is 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.