Equities researchers at Jefferies Financial Group initiated coverage on shares of Simply Good Foods (NASDAQ:SMPL) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $30.00 price target on the financial services provider’s stock. Jefferies Financial Group’s target price suggests a potential upside of 21.80% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Goldman Sachs Group reiterated a “buy” rating and issued a $32.00 target price on shares of Simply Good Foods in a research note on Monday, November 11th. ValuEngine cut shares of Simply Good Foods from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Deutsche Bank started coverage on shares of Simply Good Foods in a research note on Wednesday, December 11th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Simply Good Foods from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $30.50.

SMPL traded down $0.55 on Wednesday, hitting $24.63. The company’s stock had a trading volume of 23,153 shares, compared to its average volume of 1,543,883. The company’s 50 day simple moving average is $27.03 and its 200-day simple moving average is $27.07. The firm has a market cap of $2.38 billion, a P/E ratio of 74.27 and a beta of 0.77. Simply Good Foods has a 12 month low of $18.75 and a 12 month high of $31.34. The company has a quick ratio of 1.71, a current ratio of 2.67 and a debt-to-equity ratio of 0.54.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, January 9th. The financial services provider reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The company had revenue of $152.20 million during the quarter, compared to the consensus estimate of $159.40 million. Simply Good Foods had a net margin of 4.96% and a return on equity of 5.64%. Simply Good Foods’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. Equities analysts predict that Simply Good Foods will post 0.92 earnings per share for the current fiscal year.

In related news, CEO Joseph Scalzo acquired 16,330 shares of the stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $24.42 per share, for a total transaction of $398,778.60. Following the transaction, the chief executive officer now owns 465,683 shares in the company, valued at approximately $11,371,978.86. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Todd E. Cunfer acquired 5,000 shares of the stock in a transaction dated Tuesday, January 14th. The shares were bought at an average price of $23.30 per share, for a total transaction of $116,500.00. Following the transaction, the chief financial officer now owns 36,765 shares in the company, valued at approximately $856,624.50. The disclosure for this purchase can be found here. Insiders acquired a total of 112,918 shares of company stock worth $2,741,204 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new position in Simply Good Foods in the 2nd quarter worth $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Simply Good Foods by 35.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,780 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 1,521 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Simply Good Foods in the 3rd quarter worth $203,000. Mackenzie Financial Corp purchased a new position in Simply Good Foods in the 2nd quarter worth $348,000. Finally, Alps Advisors Inc. purchased a new position in Simply Good Foods in the 3rd quarter worth $362,000. Hedge funds and other institutional investors own 73.14% of the company’s stock.

Simply Good Foods Company Profile

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

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Analyst Recommendations for Simply Good Foods (NASDAQ:SMPL)

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