Citigroup Cuts Simply Good Foods (NASDAQ:SMPL) Price Target to $40.00

Simply Good Foods (NASDAQ:SMPL) had its price target cut by Citigroup from $43.00 to $40.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 10th. DA Davidson decreased their target price on Simply Good Foods from $42.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, June 9th. Wall Street Zen raised Simply Good Foods from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Mizuho increased their price objective on Simply Good Foods from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, April 11th. Finally, UBS Group started coverage on Simply Good Foods in a research report on Wednesday, April 23rd. They set a “neutral” rating and a $41.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.86.

Simply Good Foods Trading Down 1.5%

NASDAQ:SMPL opened at $32.29 on Wednesday. The stock has a fifty day simple moving average of $35.07 and a 200 day simple moving average of $36.12. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.75 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 quick ratio of 2.70, a current ratio of 4.27 and a debt-to-equity ratio of 0.16.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The company had revenue of $359.70 million during the quarter, compared to analysts’ expectations of $354.50 million. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the company posted $0.40 earnings per share. Sell-side analysts forecast that Simply Good Foods will post 1.78 earnings per share for the current year.

Insider Buying and Selling at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $37.25, for a total transaction of $186,250.00. Following the transaction, the senior vice president now owns 12,839 shares in the company, valued at $478,252.75. This represents a 28.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.35% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Several hedge funds have recently bought and sold shares of the business. CIBC Private Wealth Group LLC boosted its stake in shares of Simply Good Foods by 72.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 445 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Simply Good Foods in the 1st quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd acquired a new stake in Simply Good Foods in the 1st quarter worth approximately $55,000. Smartleaf Asset Management LLC boosted its position in Simply Good Foods by 255.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,710 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,229 shares during the period. Finally, Quarry LP grew its holdings in Simply Good Foods by 59.7% during the first quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 751 shares during the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

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.