Simply Good Foods (NASDAQ:SMPL) Price Target Cut to $45.00 by Analysts at Mizuho

Simply Good Foods (NASDAQ:SMPL - Get Free Report) had its price target dropped by research analysts at Mizuho from $48.00 to $45.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Mizuho's target price would indicate a potential upside of 30.97% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. Stephens lowered their price target on Simply Good Foods from $44.00 to $42.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Citigroup lowered their target price on Simply Good Foods from $46.00 to $43.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Simply Good Foods currently has a consensus rating of "Moderate Buy" and an average target price of $40.22.

Simply Good Foods Trading Down 4.1 %

Shares of SMPL stock traded down $1.48 on Friday, reaching $34.36. The company had a trading volume of 1,929,398 shares, compared to its average volume of 1,698,400. The company has a 50-day moving average of $38.26 and a 200-day moving average of $35.44. Simply Good Foods has a 12 month low of $30.00 and a 12 month high of $42.37. The stock has a market cap of $3.47 billion, a PE ratio of 24.90, a PEG ratio of 3.51 and a beta of 0.67. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its earnings results on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.06. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The company had revenue of $341.30 million for the quarter, compared to analyst estimates of $347.32 million. During the same period last year, the business posted $0.43 earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts forecast that Simply Good Foods will post 1.77 earnings per share for the current year.

Insider Activity

In other Simply Good Foods news, Director Joseph Scalzo sold 147,200 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $36.86, for a total value of $5,425,792.00. Following the completion of the transaction, the director now directly owns 141,439 shares in the company, valued at $5,213,441.54. This trade represents a 51.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy Richard Kraft sold 21,209 shares of the company's 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 sale, the insider now owns 40,068 shares in the company, valued at approximately $1,462,482. This represents a 34.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,869 shares of company stock worth $12,139,570 over the last ninety days. Insiders own 9.35% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in Simply Good Foods during the second quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its stake 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 worth $60,000 after acquiring an additional 1,241 shares during the period. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 1,201 shares during the last quarter. KBC Group NV lifted its holdings in Simply Good Foods by 31.9% during 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 during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Simply Good Foods during the second quarter worth $159,000. 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.