Simply Good Foods (NASDAQ:SMPL) Price Target Cut to $43.00 by Analysts at Citigroup

Simply Good Foods (NASDAQ:SMPL) had its price target cut by Citigroup from $46.00 to $43.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price would indicate a potential upside of 14.79% from the stock’s previous close.

Separately, Stephens decreased their price target 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Simply Good Foods has a consensus rating of “Moderate Buy” and a consensus target price of $40.78.

Simply Good Foods Stock Performance

Simply Good Foods stock traded up $0.99 during trading hours on Thursday, hitting $37.46. The stock had a trading volume of 681,154 shares, compared to its average volume of 877,708. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23. The company has a market cap of $3.75 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 3.25 and a beta of 0.64. Simply Good Foods has a fifty-two week low of $30.00 and a fifty-two week high of $43.00. The company has a 50-day moving average of $34.08 and a two-hundred day moving average of $34.94.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The firm had revenue of $375.70 million during the quarter, compared to analyst estimates of $373.07 million. During the same quarter in the previous year, the business earned $0.41 EPS. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts anticipate that Simply Good Foods will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Scalzo sold 147,200 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $36.86, for a total transaction of $5,425,792.00. Following the sale, the director now owns 141,439 shares of the company’s stock, valued at $5,213,441.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Timothy Richard Kraft sold 21,209 shares of Simply Good Foods stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.50, for a total transaction of $774,128.50. Following the completion of the transaction, the insider now directly owns 40,068 shares of the company’s stock, valued at $1,462,482. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Scalzo sold 147,200 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $36.86, for a total transaction of $5,425,792.00. Following the transaction, the director now owns 141,439 shares of the company’s stock, valued at $5,213,441.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,783 shares of company stock valued at $7,185,681. Corporate insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SMPL. Vanguard Group Inc. increased its stake in Simply Good Foods by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,099,351 shares of the financial services provider’s stock worth $377,711,000 after purchasing an additional 174,157 shares during the period. FMR LLC increased its stake in Simply Good Foods by 20.0% in the third quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock valued at $178,329,000 after purchasing an additional 855,070 shares during the last quarter. Champlain Investment Partners LLC raised its stake in Simply Good Foods by 4.0% during the 3rd quarter. Champlain Investment Partners LLC now owns 4,063,878 shares of the financial services provider’s stock worth $141,301,000 after acquiring an additional 155,894 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Simply Good Foods by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,223,666 shares of the financial services provider’s stock valued at $116,468,000 after purchasing an additional 203,914 shares during the period. Finally, Boston Trust Walden Corp acquired a new stake in shares of Simply Good Foods in the third quarter valued at approximately $80,270,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Simply Good Foods Company Profile

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.