Simply Good Foods (NASDAQ:SMPL) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Simply Good Foods (NASDAQ:SMPL) in a research note published on Monday morning, MarketBeat reports. The firm issued an equal weight rating and a $36.00 price objective on the financial services provider’s stock.

Separately, Mizuho dropped their price objective on Simply Good Foods from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Simply Good Foods presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.56.

Simply Good Foods Trading Up 1.2 %

NASDAQ SMPL opened at $33.40 on Monday. Simply Good Foods has a 52 week low of $30.00 and a 52 week high of $40.53. The firm has a 50 day moving average of $36.31 and a two-hundred day moving average of $36.24. The company has a quick ratio of 2.75, a current ratio of 4.23 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.37 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Wednesday, January 8th. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The firm had revenue of $341.30 million during the quarter, compared to the consensus estimate of $347.32 million. Simply Good Foods had a net margin of 10.40% and a return on equity of 10.25%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share. As a group, research analysts expect that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Institutional Trading of Simply Good Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in Simply Good Foods by 13.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider’s stock worth $98,000 after buying an additional 300 shares during the last quarter. LPL Financial LLC grew its position in shares of Simply Good Foods by 3.3% during the fourth quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 315 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Simply Good Foods by 2.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 11,338 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 324 shares during the period. CIBC Private Wealth Group LLC raised its position in Simply Good Foods by 72.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,060 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 445 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in Simply Good Foods by 5.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,549 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 480 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

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.