Simply Good Foods Co (NASDAQ:SMPL) rose 6.1% during mid-day trading on Wednesday . The company traded as high as $19.03 and last traded at $18.96. Approximately 1,350,826 shares were traded during mid-day trading, an increase of 126% from the average daily volume of 598,779 shares. The stock had previously closed at $17.87.
SMPL has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Simply Good Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. SunTrust Banks upped their target price on shares of Simply Good Foods to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, July 11th. Stifel Nicolaus upped their target price on shares of Simply Good Foods from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, July 11th. Finally, Buckingham Research initiated coverage on shares of Simply Good Foods in a research note on Wednesday, October 17th. They set a “buy” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $18.33.
The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 32.69 and a beta of 0.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.09 and a current ratio of 6.07.
A number of institutional investors and hedge funds have recently made changes to their positions in SMPL. Northern Trust Corp increased its stake in Simply Good Foods by 11.5% during the 1st quarter. Northern Trust Corp now owns 127,304 shares of the financial services provider’s stock worth $1,748,000 after buying an additional 13,110 shares during the period. BlackRock Inc. increased its position in shares of Simply Good Foods by 149.0% in the 1st quarter. BlackRock Inc. now owns 1,020,185 shares of the financial services provider’s stock valued at $14,008,000 after purchasing an additional 610,482 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Simply Good Foods in the 1st quarter valued at approximately $300,000. Jane Street Group LLC purchased a new stake in shares of Simply Good Foods in the 1st quarter valued at approximately $477,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Simply Good Foods in the 1st quarter valued at approximately $143,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.
About Simply Good Foods (NASDAQ:SMPL)
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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