Simply Good Foods (NASDAQ:SMPL) Price Target Cut to $45.00 by Analysts at Mizuho

Simply Good Foods (NASDAQ:SMPL) had its price objective trimmed by Mizuho from $48.00 to $45.00 in a report published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Citigroup decreased their price objective on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Stephens lowered their price target on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.22.

Simply Good Foods Stock Performance

SMPL opened at $34.36 on Friday. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 3.51 and a beta of 0.67. The company has a fifty day moving average of $38.26 and a 200 day moving average of $35.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.75 and a current ratio of 4.05. Simply Good Foods has a fifty-two week low of $30.00 and a fifty-two week high of $42.37.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The firm had revenue of $341.30 million for the quarter, compared to the consensus estimate of $347.32 million. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. As a group, sell-side analysts forecast that Simply Good Foods will post 1.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Timothy Richard Kraft sold 76,761 shares of Simply Good Foods stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $37.60, for a total transaction of $2,886,213.60. Following the completion of the sale, the insider now owns 40,068 shares of the company’s stock, valued at approximately $1,506,556.80. The trade was a 65.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Scalzo sold 147,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $36.86, for a total value of $5,425,792.00. Following the completion of the sale, the director now owns 141,439 shares of the company’s stock, valued at $5,213,441.54. The trade was a 51.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,869 shares of company stock worth $12,139,570 over the last quarter. Company insiders own 9.35% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Several institutional investors have recently made changes to their positions in SMPL. Quarry LP purchased a new stake in Simply Good Foods in the second quarter worth about $30,000. GAMMA Investing LLC lifted its position in shares of Simply Good Foods by 215.6% in the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,201 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Simply Good Foods by 236.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,241 shares in the last quarter. KBC Group NV increased its holdings in Simply Good Foods by 31.9% during the third quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after buying an additional 746 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in Simply Good Foods during the second quarter worth $159,000. Hedge funds and other institutional investors 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.