Simply Good Foods (NASDAQ:SMPL) Trading 5.7% Higher After Analyst Upgrade

The Simply Good Foods Company (NASDAQ:SMPL) traded up 5.7% during mid-day trading on Tuesday after DA Davidson raised their price target on the stock from $34.00 to $35.00. DA Davidson currently has a neutral rating on the stock. Simply Good Foods traded as high as $36.26 and last traded at $36.20. 451,672 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 919,958 shares. The stock had previously closed at $34.25.

SMPL has been the subject of a number of other reports. Mizuho reaffirmed a “buy” rating and set a $50.00 price objective on shares of Simply Good Foods in a research report on Friday, April 5th. TD Cowen began coverage on Simply Good Foods in a research note on Monday, April 22nd. They set a “hold” rating and a $34.00 target price for the company. Needham & Company LLC cut their target price on Simply Good Foods from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $42.00 price objective (up from $41.00) on shares of Simply Good Foods in a research note on Tuesday, January 2nd. Finally, Stifel Nicolaus dropped their price objective on Simply Good Foods from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Simply Good Foods currently has an average rating of “Moderate Buy” and a consensus price target of $40.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of Simply Good Foods by 121.5% during the fourth quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 457 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Simply Good Foods by 103.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 433 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Simply Good Foods during the fourth quarter worth about $36,000. TFO Wealth Partners LLC increased its position in shares of Simply Good Foods by 59,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Simply Good Foods by 18.8% during the fourth quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 292 shares during the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

Simply Good Foods Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 4.20 and a quick ratio of 3.09. The stock has a market capitalization of $3.64 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. The company has a fifty day moving average of $33.75 and a two-hundred day moving average of $36.78.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Thursday, April 4th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Simply Good Foods had a return on equity of 10.12% and a net margin of 11.12%. On average, equities analysts anticipate that The Simply Good Foods Company will post 1.71 EPS for the current year.

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.