Simply Good Foods’ (SMPL) “Buy” Rating Reaffirmed at Needham & Company LLC

Simply Good Foods (NASDAQ:SMPL)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $41.00 price target on the financial services provider’s stock. Needham & Company LLC’s price objective indicates a potential upside of 13.13% from the stock’s previous close.

SMPL has been the topic of a number of other reports. Mizuho reissued a “buy” rating and issued a $50.00 price target on shares of Simply Good Foods in a report on Friday, April 5th. DA Davidson increased their target price on shares of Simply Good Foods from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $42.00 price target (up previously from $41.00) on shares of Simply Good Foods in a report on Tuesday, January 2nd. Stifel Nicolaus reduced their price objective on Simply Good Foods from $48.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Finally, TD Cowen started coverage on Simply Good Foods in a research note on Monday, April 22nd. They issued a “hold” rating and a $34.00 target price on the stock. 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.29.

Simply Good Foods Stock Up 5.8 %

Simply Good Foods stock traded up $1.99 during midday trading on Tuesday, hitting $36.24. 812,833 shares of the stock were exchanged, compared to its average volume of 926,371. The company has a quick ratio of 3.09, a current ratio of 4.20 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. Simply Good Foods has a 52-week low of $30.00 and a 52-week high of $43.00. The business’s 50-day moving average price is $33.75 and its 200-day moving average price is $36.78.

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

Institutional Trading of Simply Good Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in SMPL. Norges Bank purchased a new position in Simply Good Foods during the 4th quarter valued at about $39,991,000. FMR LLC grew its stake in Simply Good Foods by 42.3% during the third quarter. FMR LLC now owns 2,761,132 shares of the financial services provider’s stock valued at $95,314,000 after acquiring an additional 820,801 shares in the last quarter. Boston Partners purchased a new position in Simply Good Foods during the fourth quarter valued at approximately $20,242,000. Principal Financial Group Inc. lifted its stake in Simply Good Foods by 17.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,930,744 shares of the financial services provider’s stock worth $76,457,000 after purchasing an additional 281,603 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Simply Good Foods by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,992,510 shares of the financial services provider’s stock worth $379,461,000 after purchasing an additional 259,144 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

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.