Simply Good Foods (NASDAQ:SMPL) Stock Price Up 1.7%

The Simply Good Foods Company (NASDAQ:SMPL)’s stock price rose 1.7% during mid-day trading on Tuesday . The company traded as high as $32.31 and last traded at $32.30. Approximately 56,047 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 901,292 shares. The stock had previously closed at $31.75.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SMPL. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $42.00 price objective (up previously from $41.00) on shares of Simply Good Foods in a report on Tuesday, January 2nd. Morgan Stanley reissued an “overweight” rating and issued a $42.00 price target on shares of Simply Good Foods in a research note on Thursday, April 11th. Needham & Company LLC reduced their price objective on Simply Good Foods from $45.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. DA Davidson dropped their target price on Simply Good Foods from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, April 5th. Finally, Stifel Nicolaus dropped their price objective on Simply Good Foods from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.17.

Simply Good Foods Stock Down 0.8 %

The firm has a market capitalization of $3.27 billion, a P/E ratio of 23.55, a P/E/G ratio of 2.44 and a beta of 0.69. 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 fifty day moving average price of $34.07 and a two-hundred day moving average price of $36.75.

Insider Activity at Simply Good Foods

In related news, Director Robert G. Montgomery sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $39.36, for a total transaction of $98,400.00. Following the completion of the transaction, the director now owns 52,738 shares in the company, valued at approximately $2,075,767.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMPL. Vanguard Group Inc. boosted its position in Simply Good Foods by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,992,510 shares of the financial services provider’s stock worth $379,461,000 after acquiring an additional 259,144 shares during the period. State Board of Administration of Florida Retirement System raised its position in Simply Good Foods by 79.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 57,914 shares of the financial services provider’s stock valued at $1,999,000 after buying an additional 25,650 shares during the period. Assenagon Asset Management S.A. acquired a new position in Simply Good Foods during the third quarter valued at $2,877,000. Diversified Trust Co raised its position in Simply Good Foods by 7.5% during the fourth quarter. Diversified Trust Co now owns 20,793 shares of the financial services provider’s stock valued at $823,000 after buying an additional 1,453 shares during the period. Finally, Rhumbline Advisers raised its position in Simply Good Foods by 4.0% during the third quarter. Rhumbline Advisers now owns 259,500 shares of the financial services provider’s stock valued at $8,958,000 after buying an additional 10,073 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

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.