Simply Good Foods (NASDAQ:SMPL) Price Target Lowered to $43.00 at Citigroup

Simply Good Foods (NASDAQ:SMPL) had its price objective dropped by analysts at Citigroup from $46.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective would suggest a potential upside of 14.79% from the company’s previous close.

Separately, Stephens reduced their price target on shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.78.

Simply Good Foods Stock Up 2.7 %

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

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, meeting the consensus estimate of $0.50. The company had revenue of $375.70 million during the quarter, compared to analysts’ expectations of $373.07 million. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. As a group, sell-side analysts expect that Simply Good Foods will post 1.76 EPS for the current year.

Insider Buying and Selling

In related news, Director Joseph Scalzo sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total transaction of $899,750.00. Following the completion of the transaction, the director now directly owns 139,204 shares in the company, valued at $5,009,951.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Joseph Scalzo sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total transaction of $899,750.00. Following the completion of the transaction, the director now directly owns 139,204 shares in the company, valued at approximately $5,009,951.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Timothy Richard Kraft sold 21,209 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $36.50, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,783 shares of company stock valued at $7,185,681. Insiders own 10.98% of the company’s stock.

Institutional Trading of Simply Good Foods

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Simply Good Foods by 1.6% in 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 grew its holdings in Simply Good Foods by 20.0% during the third quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock worth $178,329,000 after acquiring an additional 855,070 shares during the period. Champlain Investment Partners LLC raised its position in Simply Good Foods by 4.0% in the third 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 lifted its holdings in 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 acquiring an additional 203,914 shares during the last quarter. Finally, Boston Trust Walden Corp bought a new position in shares of Simply Good Foods during the 3rd quarter valued at about $80,270,000. 88.45% of the stock is currently owned by 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.