Simply Good Foods (NASDAQ:SMPL) Price Target Raised to $45.00

Simply Good Foods (NASDAQ:SMPL) had its price target lifted by research analysts at Mizuho from $40.00 to $45.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Mizuho’s target price would suggest a potential upside of 13.69% from the stock’s previous close.

A number of other research analysts have also weighed in on SMPL. Citigroup cut 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. Stephens dropped their target price on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.22.

Simply Good Foods Stock Up 1.0 %

SMPL stock traded up $0.41 during mid-day trading on Monday, hitting $39.58. The stock had a trading volume of 12,656 shares, compared to its average volume of 884,850. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 3.46 and a beta of 0.67. The company has a fifty day moving average of $35.85 and a 200 day moving average of $35.14. Simply Good Foods has a 1-year low of $30.00 and a 1-year high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The business had revenue of $375.70 million for the quarter, compared to analyst estimates of $373.07 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities analysts expect that Simply Good Foods will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Simply Good Foods news, insider Timothy Richard Kraft sold 21,209 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.50, for a total transaction of $774,128.50. Following the completion of the transaction, the insider now directly owns 40,068 shares in the company, valued at $1,462,482. This represents a 34.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Scalzo sold 147,200 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $36.86, for a total transaction of $5,425,792.00. Following the completion of the sale, the director now directly owns 141,439 shares in the company, valued at approximately $5,213,441.54. The trade was a 51.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,869 shares of company stock worth $12,139,570 over the last 90 days. Corporate insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Several institutional investors have recently modified their holdings of SMPL. Quarry LP bought a new position in Simply Good Foods during the second quarter worth about $30,000. GAMMA Investing LLC increased its stake in Simply Good Foods by 182.4% in the 2nd quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock valued at $31,000 after buying an additional 549 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Simply Good Foods by 236.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,241 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Simply Good Foods during the 2nd quarter worth about $71,000. Finally, KBC Group NV increased its position in shares of Simply Good Foods by 31.9% in the third quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 746 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.