Simply Good Foods (NASDAQ:SMPL) Given New $38.00 Price Target at Stifel Nicolaus

Simply Good Foods (NASDAQ:SMPL) had its target price lowered by Stifel Nicolaus from $48.00 to $38.00 in a research report sent to investors on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the company. Morgan Stanley decreased their price target on Simply Good Foods from $46.00 to $42.00 and set an overweight rating for the company in a research note on Wednesday, March 20th. DA Davidson decreased their target price on Simply Good Foods from $44.00 to $39.00 and set a neutral rating for the company in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a $42.00 target price (up previously from $41.00) on shares of Simply Good Foods in a research note on Tuesday, January 2nd. Finally, Needham & Company LLC raised their target price on Simply Good Foods from $42.00 to $45.00 and gave the company a buy rating in a research note on Friday, January 5th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $41.75.

Simply Good Foods Price Performance

Shares of NASDAQ SMPL opened at $34.03 on Thursday. Simply Good Foods has a 1-year low of $31.06 and a 1-year high of $43.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.02 and a quick ratio of 3.46. The business’s fifty day moving average price is $35.76 and its two-hundred day moving average price is $36.91. The firm has a market capitalization of $3.40 billion, a PE ratio of 25.98, a P/E/G ratio of 2.45 and a beta of 0.70.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, January 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Simply Good Foods had a return on equity of 9.95% and a net margin of 10.66%. The company had revenue of $308.70 million during the quarter, compared to analysts’ expectations of $309.26 million. During the same quarter in the prior year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts expect that Simply Good Foods will post 1.7 EPS for the current year.

Insider Buying and Selling

In other news, SVP Stuart E. Jr. Heflin sold 1,048 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $40.45, for a total transaction of $42,391.60. Following the completion of the sale, the senior vice president now directly owns 21,084 shares of the company’s stock, valued at approximately $852,847.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Stuart E. Jr. Heflin sold 1,048 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $40.45, for a total transaction of $42,391.60. Following the completion of the sale, the senior vice president now directly owns 21,084 shares of the company’s stock, valued at approximately $852,847.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian K. Ratzan sold 30,768 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $42.73, for a total value of $1,314,716.64. Following the sale, the director now directly owns 2,195,560 shares of the company’s stock, valued at $93,816,278.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,326 shares of company stock valued at $2,877,965. Corporate insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SMPL. Belpointe Asset Management LLC grew its holdings in Simply Good Foods by 235.7% in the 1st quarter. Belpointe Asset Management LLC now owns 621 shares of the financial services provider’s stock valued at $25,000 after buying an additional 436 shares during the last quarter. Point72 Middle East FZE acquired a new stake in shares of Simply Good Foods during the 4th quarter worth approximately $30,000. Pacer Advisors Inc. grew its holdings in shares of Simply Good Foods by 121.5% during the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 457 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Simply Good Foods by 103.1% during the 4th 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 in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Simply Good Foods during the 4th quarter worth approximately $36,000. 88.45% of the stock is owned by institutional investors.

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.