The Simply Good Foods Company (NASDAQ:SMPL) Receives $40.22 Average Price Target from Brokerages

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

Several analysts have weighed in on the stock. Mizuho lowered their target price on shares of Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Citigroup lowered 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 note on Thursday, November 14th.

Simply Good Foods Stock Up 2.0 %

Shares of NASDAQ:SMPL opened at $37.75 on Tuesday. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $37.19 and a 200 day simple moving average of $35.93. The firm has a market cap of $3.81 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. Simply Good Foods has a 12-month low of $30.00 and a 12-month high of $40.53.

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

Hedge Funds Weigh In On Simply Good Foods

Several hedge funds and other institutional investors have recently modified their holdings of SMPL. New York State Teachers Retirement System boosted its holdings in shares of Simply Good Foods by 7.4% during the third quarter. New York State Teachers Retirement System now owns 112,055 shares of the financial services provider’s stock valued at $3,896,000 after acquiring an additional 7,736 shares during the period. Diversify Wealth Management LLC boosted its holdings in shares of Simply Good Foods by 15.8% during the third quarter. Diversify Wealth Management LLC now owns 8,745 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 1,196 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in Simply Good Foods by 23.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 62,573 shares of the financial services provider’s stock worth $2,176,000 after purchasing an additional 11,951 shares during the period. Entropy Technologies LP acquired a new stake in Simply Good Foods in the third quarter worth about $241,000. Finally, Victory Capital Management Inc. lifted its holdings in Simply Good Foods by 13.5% in the third quarter. Victory Capital Management Inc. now owns 1,045,457 shares of the financial services provider’s stock worth $36,351,000 after purchasing an additional 124,655 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

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.