Simply Good Foods (NASDAQ:SMPL) Given New $34.00 Price … – MarketBeat

Simply Good Foods (NASDAQ:SMPL – Get Rating) had its price objective decreased by research analysts at Morgan Stanley from $35.00 to $34.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential downside of 5.63% from the company’s current price.

Several other equities research analysts also recently commented on SMPL. Credit Suisse Group dropped their price objective on shares of Simply Good Foods from $42.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Simply Good Foods from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, December 6th. Stifel Nicolaus dropped 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. UBS Group dropped their price objective on shares of Simply Good Foods from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Friday. Finally, Needham & Company LLC started coverage on Simply Good Foods in a research report on Tuesday, December 13th. They set a “buy” rating and a $42.00 price target on the stock. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.33.

Simply Good Foods Stock Performance

Shares of NASDAQ:SMPL traded up $1.17 during midday trading on Friday, reaching $36.03. The company had a trading volume of 7,882 shares, compared to its average volume of 506,626. The company’s 50 day moving average price is $38.02 and its 200 day moving average price is $35.20. The company has a current ratio of 3.44, a quick ratio of 2.21 and a debt-to-equity ratio of 0.28. The stock has a market cap of $3.67 billion, a P/E ratio of 33.36 and a beta of 0.79. Simply Good Foods has a 52-week low of $29.21 and a 52-week high of $45.77.

Simply Good Foods (NASDAQ:SMPL – Get Rating) last issued its quarterly earnings results on Friday, October 21st. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. The company had revenue of $274.20 million for the quarter, compared to the consensus estimate of $260.81 million. Simply Good Foods had a net margin of 9.29% and a return on equity of 11.40%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. As a group, sell-side analysts anticipate that Simply Good Foods will post 1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMPL. Advisor Group Holdings Inc. increased its position in shares of Simply Good Foods by 7.2% in the first quarter. Advisor Group Holdings Inc. now owns 6,059 shares of the financial services provider’s stock worth $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 first quarter. JPMorgan Chase & Co. now owns 129,928 shares of the financial services provider’s stock worth $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 first quarter. Raymond James & Associates now owns 45,543 shares of the financial services provider’s stock worth $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 first quarter. Citigroup Inc. now owns 74,216 shares of the financial services provider’s stock worth $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 first quarter. PNC Financial Services Group Inc. now owns 6,454 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 296 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

About Simply Good Foods

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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.