Simply Good Foods’ (SMPL) Buy Rating Reiterated at Needham & Company LLC

Simply Good Foods (NASDAQ:SMPL)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They presently have a $41.00 price objective on the financial services provider’s stock. Needham & Company LLC’s target price would suggest a potential upside of 11.56% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $42.00 price objective (up from $41.00) on shares of Simply Good Foods in a report on Tuesday, January 2nd. Mizuho restated a “buy” rating and set a $50.00 target price on shares of Simply Good Foods in a report on Friday, April 5th. TD Cowen started coverage on Simply Good Foods in a report on Monday, April 22nd. They set a “hold” rating and a $34.00 target price for the company. Morgan Stanley restated an “overweight” rating and set a $42.00 target price on shares of Simply Good Foods in a report on Thursday, April 11th. Finally, Stifel Nicolaus dropped their target price on Simply Good Foods from $48.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Simply Good Foods presently has an average rating of “Moderate Buy” and an average target price of $40.29.

Simply Good Foods Price Performance

Simply Good Foods stock opened at $36.75 on Tuesday. Simply Good Foods has a one year low of $30.00 and a one year high of $43.00. The business has a fifty day moving average price of $33.78 and a 200-day moving average price of $36.80. 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 firm has a market capitalization of $3.67 billion, a P/E ratio of 26.44, a PEG ratio of 2.53 and a beta of 0.69.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, April 4th. The financial services provider reported $0.36 EPS for the quarter, topping 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%. As a group, equities research analysts forecast that Simply Good Foods will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Simply Good Foods

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Simply Good Foods by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,992,510 shares of the financial services provider’s stock worth $379,461,000 after purchasing an additional 259,144 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Simply Good Foods by 79.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 57,914 shares of the financial services provider’s stock valued at $1,999,000 after acquiring an additional 25,650 shares during the period. Assenagon Asset Management S.A. bought a new stake in Simply Good Foods during the third quarter valued at about $2,877,000. Diversified Trust Co raised its holdings in Simply Good Foods by 7.5% during the fourth quarter. Diversified Trust Co now owns 20,793 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 1,453 shares during the period. Finally, Rhumbline Advisers raised its holdings in Simply Good Foods by 4.0% during the third quarter. Rhumbline Advisers now owns 259,500 shares of the financial services provider’s stock valued at $8,958,000 after acquiring an additional 10,073 shares during the period. 88.45% of the stock is currently owned by hedge funds and other 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.