Simply Good Foods (NASDAQ:SMPL) had its price target reduced by Wells Fargo & Co from $35.00 to $30.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Co‘s target price points to a potential upside of 39.86% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group upped their price objective on shares of Simply Good Foods from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday. Deutsche Bank dropped their price target on shares of Simply Good Foods from $30.00 to $24.00 in a research note on Tuesday, April 7th. William Blair initiated coverage on shares of Simply Good Foods in a research note on Wednesday, June 24th. They issued an “outperform” rating on the stock. Citigroup increased their target price on shares of Simply Good Foods from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, DA Davidson increased their price target on shares of Simply Good Foods from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $28.00.
SMPL traded down $0.73 during midday trading on Thursday, hitting $21.45. The company had a trading volume of 80,246 shares, compared to its average volume of 1,300,115. Simply Good Foods has a 52 week low of $14.08 and a 52 week high of $31.34. The company has a quick ratio of 2.10, a current ratio of 3.17 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 75.14 and a beta of 0.61. The stock’s 50 day moving average price is $17.77 and its 200 day moving average price is $20.41.
Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Wednesday, July 8th. The financial services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.15 by $0.11. The company had revenue of $215.10 million during the quarter, compared to the consensus estimate of $208.10 million. Simply Good Foods had a net margin of 3.86% and a return on equity of 5.90%. The firm’s revenue for the quarter was up 54.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. Research analysts predict that Simply Good Foods will post 0.8 EPS for the current year.
In related news, Director Brian K. Ratzan bought 15,000 shares of the company’s stock in a transaction dated Monday, April 13th. The stock was purchased at an average cost of $16.00 per share, with a total value of $240,000.00. Following the transaction, the director now owns 81,254 shares in the company, valued at approximately $1,300,064. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James D. White bought 2,780 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was bought at an average cost of $18.77 per share, with a total value of $52,180.60. Over the last ninety days, insiders bought 138,149 shares of company stock valued at $2,384,222. Corporate insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SMPL. Point72 Hong Kong Ltd lifted its position in Simply Good Foods by 2,146.8% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,775 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 1,696 shares during the period. Advisor Group Holdings Inc. purchased a new position in Simply Good Foods during the 1st quarter valued at about $54,000. Ladenburg Thalmann Financial Services Inc. lifted its position in Simply Good Foods by 89.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,272 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 1,071 shares during the period. Great West Life Assurance Co. Can purchased a new position in Simply Good Foods during the 4th quarter valued at about $159,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Simply Good Foods by 44.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,324 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 2,544 shares during the period. 90.49% of the stock is owned by institutional investors.
About Simply Good Foods
The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.
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