The Simply Good Foods Company (NASDAQ:SMPL) Given Average Rating of “Moderate Buy” by Brokerages

The Simply Good Foods Company (NASDAQ:SMPLGet Rating) has earned an average rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $42.00.

Several brokerages have recently commented on SMPL. Stifel Nicolaus decreased their price objective on shares of Simply Good Foods from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 14th. Cowen began coverage on shares of Simply Good Foods in a report on Wednesday, December 14th. They issued a “market perform” rating and a $42.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of Simply Good Foods from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, January 6th. Needham & Company LLC began coverage on shares of Simply Good Foods in a report on Tuesday, December 13th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Stephens decreased their price objective on shares of Simply Good Foods from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, October 12th.

Institutional Investors Weigh In On Simply Good Foods

A number of hedge funds have recently added to or reduced their stakes in SMPL. Advisor Group Holdings Inc. increased its position in shares of Simply Good Foods by 7.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 6,059 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 407 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Simply Good Foods by 1.6% in the 1st quarter. JPMorgan Chase & Co. now owns 129,928 shares of the financial services provider’s stock valued at $4,930,000 after purchasing an additional 2,098 shares during the last quarter. Raymond James & Associates increased its position in shares of Simply Good Foods by 2.7% in the 1st quarter. Raymond James & Associates now owns 45,543 shares of the financial services provider’s stock valued at $1,728,000 after purchasing an additional 1,205 shares during the last quarter. Citigroup Inc. increased its position in shares of Simply Good Foods by 11.4% in the 1st quarter. Citigroup Inc. now owns 74,216 shares of the financial services provider’s stock valued at $2,817,000 after purchasing an additional 7,583 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Simply Good Foods by 4.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,454 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 296 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $35.67 on Wednesday. The company’s 50-day moving average is $37.46 and its two-hundred day moving average is $34.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.42 and a quick ratio of 2.88. Simply Good Foods has a 1-year low of $29.21 and a 1-year high of $45.77. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 29.24 and a beta of 0.79.

About Simply Good Foods

(Get Rating)

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, pizzas, protein chips, and recipes, as well as licensed frozen meals under the Atkins, Atkins Endulge, and Quest brand names.

Further Reading

Analyst Recommendations for Simply Good Foods (NASDAQ:SMPL)

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