Simply Good Foods (NASDAQ:SMPL) Stock Price Up 5.7% After Analyst Upgrade

The Simply Good Foods Company (NASDAQ:SMPL) was up 5.7% during mid-day trading on Tuesday after DA Davidson raised their price target on the stock from $34.00 to $35.00. DA Davidson currently has a neutral rating on the stock. Simply Good Foods traded as high as $36.26 and last traded at $36.20. Approximately 451,672 shares traded hands during trading, a decline of 51% from the average daily volume of 919,958 shares. The stock had previously closed at $34.25.

A number of other equities analysts also recently weighed in on the stock. TD Cowen initiated coverage on shares of Simply Good Foods in a research note on Monday, April 22nd. They set a “hold” rating and a $34.00 target price for the company. Needham & Company LLC reduced their price objective on Simply Good Foods from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 price target (up from $41.00) on shares of Simply Good Foods in a report on Tuesday, January 2nd. Mizuho reiterated a “buy” rating and issued a $50.00 price target on shares of Simply Good Foods in a research note on Friday, April 5th. Finally, Morgan Stanley restated an “overweight” rating and set a $42.00 price objective on shares of Simply Good Foods in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.29.

Institutional Trading of Simply Good Foods

Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in Simply Good Foods by 121.5% during the fourth quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 457 shares during the period. Parkside Financial Bank & Trust increased its position in Simply Good Foods by 103.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 433 shares during the last quarter. Principal Securities Inc. bought a new position in Simply Good Foods in the fourth quarter valued at about $36,000. TFO Wealth Partners LLC boosted its position in Simply Good Foods by 59,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Simply Good Foods by 18.8% during the 4th quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 292 shares during the period. 88.45% of the stock is currently owned by institutional investors.

Simply Good Foods Stock Up 6.4 %

The company’s 50-day moving average price is $33.75 and its 200 day moving average price is $36.78. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.09 and a current ratio of 4.20. The stock has a market cap of $3.64 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, April 4th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Simply Good Foods had a net margin of 11.12% and a return on equity of 10.12%. As a group, analysts forecast that The Simply Good Foods Company will post 1.71 EPS for the current fiscal year.

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.