The Simply Good Foods Company (NASDAQ:SMPL) Receives $42.00 Consensus PT from Brokerages

The Simply Good Foods Company (NASDAQ:SMPL – Get Rating) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $42.00.

SMPL has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of Simply Good Foods from $50.00 to $46.00 in a research report on Sunday, January 8th. Needham & Company LLC began coverage on shares of Simply Good Foods in a research report on Tuesday, December 13th. They set a “buy” rating and a $42.00 price objective for the company. Credit Suisse Group reduced their price objective on shares of Simply Good Foods from $42.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, January 6th. Cowen began coverage on shares of Simply Good Foods in a report on Wednesday, December 14th. They set a “market perform” rating and a $42.00 target price for the company. Finally, Morgan Stanley dropped their target price on shares of Simply Good Foods from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, January 6th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. grew its holdings in Simply Good Foods by 121.9% in the 4th quarter. Ronald Blue Trust Inc. now owns 770 shares of the financial services provider’s stock valued at $25,000 after buying an additional 423 shares during the period. Quadrant Capital Group LLC boosted its holdings in Simply Good Foods by 124.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 902 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 501 shares during the period. Point72 Middle East FZE acquired a new position in shares of Simply Good Foods in the 4th quarter valued at approximately $30,000. Advisors Asset Management Inc. raised its position in shares of Simply Good Foods by 35.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,295 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 342 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Simply Good Foods by 9,214.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,304 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,290 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL opened at $36.85 on Thursday. Simply Good Foods has a 52 week low of $29.21 and a 52 week high of $45.77. The stock has a market capitalization of $3.67 billion, a P/E ratio of 30.20 and a beta of 0.78. The firm has a fifty day simple moving average of $36.71 and a two-hundred day simple moving average of $35.78. The company has a quick ratio of 2.88, a current ratio of 4.42 and a debt-to-equity ratio of 0.27.

Simply Good Foods (NASDAQ:SMPL – Get Rating) last released its earnings results on Thursday, January 5th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Simply Good Foods had a net margin of 10.38% and a return on equity of 10.75%. The firm had revenue of $300.88 million during the quarter, compared to analyst estimates of $301.94 million. On average, analysts expect that Simply Good Foods will post 1.56 earnings per share for the current fiscal year.

About Simply Good Foods

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The Simply Good Foods Co is a consumer packaged food and beverage company, which engages in the development, marketing, and sale of nutritional food and snacking products. Its products include nutrition bars, ready-to-drink shakes, snacks, confectionery, and frozen meals under the Atkins and Quest brands.