Citigroup Lowers Simply Good Foods (NASDAQ:SMPL) Price Target to $43.00

Simply Good Foods (NASDAQ:SMPL) had its price objective lowered by investment analysts at Citigroup from $46.00 to $43.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target indicates a potential upside of 17.13% from the stock’s previous close.

Separately, Stephens cut their target price on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Simply Good Foods presently has a consensus rating of “Moderate Buy” and an average price target of $40.78.

Simply Good Foods Price Performance

Shares of SMPL stock opened at $36.71 on Thursday. The firm has a fifty day simple moving average of $34.23 and a 200-day simple moving average of $34.97. The company has a market capitalization of $3.68 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 3.23 and a beta of 0.64. 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 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $375.70 million during the quarter, compared to analysts’ expectations of $373.07 million. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. Equities research analysts anticipate that Simply Good Foods will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joseph Scalzo sold 25,000 shares of Simply Good Foods stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total value of $899,750.00. Following the transaction, the director now directly owns 139,204 shares of the company’s stock, valued at $5,009,951.96. This trade represents a 15.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian K. Ratzan sold 50,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $37.38, for a total transaction of $1,869,000.00. Following the sale, the director now directly owns 2,049,387 shares in the company, valued at approximately $76,606,086.06. This trade represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,108 shares of company stock worth $9,253,356. 10.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Simply Good Foods

A number of institutional investors have recently modified their holdings of SMPL. UniSuper Management Pty Ltd bought a new position in Simply Good Foods during the first quarter valued at approximately $615,000. Tidal Investments LLC raised its holdings in shares of Simply Good Foods by 215.8% during the 1st quarter. Tidal Investments LLC now owns 37,396 shares of the financial services provider’s stock valued at $1,273,000 after purchasing an additional 25,553 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Simply Good Foods by 60.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 154,988 shares of the financial services provider’s stock valued at $5,600,000 after purchasing an additional 58,553 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Simply Good Foods in the first quarter worth $624,000. Finally, SG Americas Securities LLC increased its position in Simply Good Foods by 671.9% during the second quarter. SG Americas Securities LLC now owns 30,697 shares of the financial services provider’s stock worth $1,109,000 after buying an additional 26,720 shares during the last quarter. 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.