Simply Good Foods (NASDAQ:SMPL) Stock Price Up 5.7% After Analyst Upgrade

Shares of The Simply Good Foods Company (NASDAQ:SMPL) traded up 5.7% during mid-day trading on Tuesday after DA Davidson raised their price target on the stock from $34.00 to $35.00. DA Davidson currently has a neutral rating on the stock. Simply Good Foods traded as high as $36.26 and last traded at $36.20. 451,672 shares changed hands during trading, a decline of 51% from the average session volume of 919,958 shares. The stock had previously closed at $34.25.

A number of other brokerages also recently weighed in on SMPL. Morgan Stanley reiterated an “overweight” rating and issued a $42.00 price objective on shares of Simply Good Foods in a research report on Thursday, April 11th. TD Cowen initiated coverage on shares of Simply Good Foods in a research note on Monday, April 22nd. They issued a “hold” rating and a $34.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 price objective (up from $41.00) on shares of Simply Good Foods in a research report on Tuesday, January 2nd. Stifel Nicolaus dropped their target price on shares of Simply Good Foods from $48.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. Finally, Needham & Company LLC lowered their price objective on Simply Good Foods from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Simply Good Foods presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.29.

Institutional Investors Weigh In On Simply Good Foods

Several institutional investors have recently added to or reduced their stakes in SMPL. Pacer Advisors Inc. grew its position in Simply Good Foods by 121.5% during the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 457 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Simply Good Foods by 103.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 433 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Simply Good Foods during the 4th quarter valued at approximately $36,000. TFO Wealth Partners LLC raised its holdings in Simply Good Foods by 59,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Simply Good Foods by 18.8% in the 4th quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock worth $73,000 after buying an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Stock Up 6.4 %

The firm’s fifty day simple moving average is $33.75 and its 200-day simple moving average is $36.78. The company has a market cap of $3.64 billion, a PE ratio of 25.97, a P/E/G ratio of 2.54 and a beta of 0.69. The company has a quick ratio of 3.09, a current ratio of 4.20 and a debt-to-equity ratio of 0.14.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, April 4th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Simply Good Foods had a net margin of 11.12% and a return on equity of 10.12%. As a group, equities research analysts expect that The Simply Good Foods Company will post 1.71 earnings per share for the current fiscal year.

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.