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

Needham & Company LLC restated their buy rating on shares of Simply Good Foods (NASDAQ:SMPL) in a report issued on Friday morning, Benzinga reports. The firm currently has a $41.00 price objective on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the company. Mizuho reiterated a buy rating and set a $50.00 price target on shares of Simply Good Foods in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Simply Good Foods from $36.00 to $37.00 and gave the stock a hold rating in a research note on Friday, June 14th. Stifel Nicolaus raised their price objective on Simply Good Foods from $38.00 to $40.00 and gave the stock a buy rating in a research note on Friday, June 14th. DA Davidson raised their price objective on Simply Good Foods from $34.00 to $35.00 and gave the stock a neutral rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley reissued an overweight rating and set a $42.00 price objective on shares of Simply Good Foods in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $39.86.

Simply Good Foods Stock Up 1.2 %

Shares of Simply Good Foods stock opened at $36.13 on Friday. Simply Good Foods has a twelve month low of $30.00 and a twelve month high of $43.00. The company has a current ratio of 5.19, a quick ratio of 3.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.12 and a beta of 0.65. The business’s 50 day simple moving average is $36.71 and its 200-day simple moving average is $36.61.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, June 27th. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The firm had revenue of $334.80 million for the quarter, compared to analysts’ expectations of $337.66 million. During the same period last year, the firm earned $0.40 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Simply Good Foods will post 1.7 earnings per share for the current year.

Insider Activity at Simply Good Foods

In related news, Director James D. White sold 4,000 shares of Simply Good Foods stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total transaction of $152,680.00. Following the completion of the sale, the director now owns 17,027 shares of the company’s stock, valued at $649,920.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in Simply Good Foods by 18.8% during the fourth quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock valued at $73,000 after buying an additional 292 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Simply Good Foods by 1.7% in the fourth quarter. Teacher Retirement System of Texas now owns 20,007 shares of the financial services provider’s stock worth $792,000 after purchasing an additional 326 shares during the period. Alliance Wealth Advisors LLC UT increased its stake in shares of Simply Good Foods by 3.6% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 11,210 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 394 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Simply Good Foods by 103.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 433 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Simply Good Foods by 121.5% in the fourth quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 457 shares during the period. 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.