Simply Good Foods (NASDAQ:SMPL) had its target price dropped by investment analysts at Deutsche Bank from $16.00 to $15.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the financial services provider’s stock. Deutsche Bank’s target price suggests a potential upside of 14.85% from the company’s previous close.
A number of other research firms have also recently weighed in on SMPL. Zacks Investment Research cut shares of Simply Good Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. SunTrust Banks initiated coverage on shares of Simply Good Foods in a research note on Thursday, February 1st. They set a “buy” rating and a $17.00 price target on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Simply Good Foods in a research note on Monday, January 22nd. They set a “buy” rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Simply Good Foods currently has an average rating of “Buy” and a consensus price target of $15.83.
NASDAQ:SMPL opened at $13.06 on Wednesday. The company has a quick ratio of 3.31, a current ratio of 4.20 and a debt-to-equity ratio of 0.31. Simply Good Foods has a fifty-two week low of $10.93 and a fifty-two week high of $16.01.
In related news, Director Robert G. Montgomery purchased 5,000 shares of the stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $12.40 per share, with a total value of $62,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SMPL. Nationwide Fund Advisors acquired a new stake in Simply Good Foods in the 3rd quarter valued at about $488,000. Bank of New York Mellon Corp acquired a new stake in Simply Good Foods in the 3rd quarter valued at about $371,000. Wells Fargo & Company MN acquired a new stake in Simply Good Foods in the 3rd quarter valued at about $493,000. Highbridge Capital Management LLC acquired a new stake in Simply Good Foods in the 3rd quarter valued at about $5,781,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Simply Good Foods in the 3rd quarter valued at about $142,000. 74.24% of the stock is currently owned by hedge funds and other institutional investors.
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About Simply Good Foods
The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. The company markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Endulge, and Atkins Harvest Trail brand names.
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