Morgan Stanley Begins Coverage on Simply Good Foods (NASDAQ:SMPL)

Investment analysts at Morgan Stanley started coverage on shares of Simply Good Foods (NASDAQ:SMPL - Get Free Report) in a note issued to investors on Monday, MarketBeat Ratings reports. The firm set an "equal weight" rating and a $36.00 price target on the financial services provider's stock. Morgan Stanley's price objective would suggest a potential upside of 4.65% from the company's previous close.

Separately, Mizuho decreased their price objective on shares of Simply Good Foods from $48.00 to $45.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Four equities research 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.com, Simply Good Foods has an average rating of "Moderate Buy" and an average target price of $39.56.

Simply Good Foods Trading Up 1.0 %

Simply Good Foods stock traded up $0.35 during trading on Monday, hitting $34.40. The company had a trading volume of 538,973 shares, compared to its average volume of 915,267. The company has a current ratio of 4.23, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. The company's 50 day simple moving average is $36.33 and its 200-day simple moving average is $36.22. Simply Good Foods has a 1-year low of $30.00 and a 1-year high of $40.53.

Remove Ads

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. The business 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 quarterly 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, analysts expect that Simply Good Foods will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Simply Good Foods

A number of hedge funds have recently modified their holdings of SMPL. Quadrant Capital Group LLC lifted its position 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 acquiring an additional 300 shares during the period. LPL Financial LLC raised its stake 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 purchasing an additional 315 shares during the last quarter. Pictet Asset Management Holding SA grew its position in 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 buying an additional 324 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake 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 buying an additional 445 shares during the period. Finally, Summit Investment Advisors Inc. raised its position 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 buying an additional 480 shares during the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

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.