Mizuho Lowers Simply Good Foods (NASDAQ:SMPL) Price Target to $45.00

Simply Good Foods (NASDAQ:SMPL) had its price target cut by research analysts at Mizuho from $48.00 to $45.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price objective would indicate a potential upside of 25.56% from the company’s current price.

A number of other research firms have also recently weighed in on SMPL. Citigroup cut their price target on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Stephens reduced their target price on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.22.

Simply Good Foods Stock Down 2.5 %

Simply Good Foods stock opened at $35.84 on Friday. Simply Good Foods has a fifty-two week low of $30.00 and a fifty-two week high of $42.37. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 3.51 and a beta of 0.67. The stock’s fifty day moving average is $38.26 and its two-hundred day moving average is $35.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.75 and a current ratio of 4.05.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $347.32 million. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. Analysts predict that Simply Good Foods will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Simply Good Foods news, insider Timothy Richard Kraft sold 21,209 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.50, for a total transaction of $774,128.50. Following the completion of the sale, the insider now owns 40,068 shares of the company’s stock, valued at approximately $1,462,482. The trade was a 34.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Scalzo sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total value of $899,750.00. Following the completion of the transaction, the director now owns 139,204 shares in the company, valued at approximately $5,009,951.96. This trade represents a 15.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,869 shares of company stock valued at $12,139,570. Insiders own 9.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SMPL. Quarry LP purchased a new stake in Simply Good Foods during the second quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Simply Good Foods by 236.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,241 shares in the last quarter. GAMMA Investing LLC boosted its position in Simply Good Foods by 215.6% during the 4th quarter. GAMMA Investing LLC now owns 1,758 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,201 shares during the period. KBC Group NV increased its holdings in Simply Good Foods by 31.9% in the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 746 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Simply Good Foods in the second quarter valued at about $159,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

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.