Simply Good Foods (NASDAQ:SMPL) PT Lowered to $42.00

Simply Good Foods (NASDAQ:SMPL - Get Free Report) had its target price lowered by investment analysts at Stephens from $44.00 to $42.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Stephens' target price suggests a potential upside of 30.23% from the stock's previous close.

Several other research analysts also recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $41.00 target price on shares of Simply Good Foods in a report on Friday, June 28th. DA Davidson lifted their target price on Simply Good Foods from $35.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, July 1st. Three 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.50.

Simply Good Foods Price Performance

SMPL stock traded down $0.26 during midday trading on Wednesday, reaching $32.25. 1,393,037 shares of the stock were exchanged, compared to its average volume of 881,148. The stock has a market capitalization of $3.23 billion, a PE ratio of 22.42, a P/E/G ratio of 2.27 and a beta of 0.63. Simply Good Foods has a 52 week low of $30.00 and a 52 week high of $43.00. The company has a fifty day moving average price of $33.29 and a 200 day moving average price of $34.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.19 and a quick ratio of 4.05.

Insider Transactions at Simply Good Foods

In other Simply Good Foods news, SVP Stuart E. Jr. Heflin sold 1,058 shares of Simply Good Foods stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $34.44, for a total value of $36,437.52. Following the completion of the sale, the senior vice president now directly owns 19,319 shares of the company's stock, valued at approximately $665,346.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.98% of the company's stock.

Hedge Funds Weigh In On Simply Good Foods

Institutional investors have recently made changes to their positions in the stock. UniSuper Management Pty Ltd acquired a new position in shares of Simply Good Foods during the first quarter valued at about $615,000. Nordea Investment Management AB bought a new stake in shares of Simply Good Foods during the first quarter worth about $3,821,000. Mutual of America Capital Management LLC increased its position in shares of Simply Good Foods by 507.9% during the first quarter. Mutual of America Capital Management LLC now owns 96,435 shares of the financial services provider's stock worth $3,282,000 after acquiring an additional 80,571 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Simply Good Foods by 171.2% during the first quarter. BNP Paribas Financial Markets now owns 214,587 shares of the financial services provider's stock worth $7,302,000 after acquiring an additional 135,465 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of Simply Good Foods by 215.8% during the first quarter. Tidal Investments LLC now owns 37,396 shares of the financial services provider's stock worth $1,273,000 after acquiring an additional 25,553 shares in the last quarter. 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.