Brokerages Set The Simply Good Foods Company (NASDAQ:SMPL) Target Price at $27.63

Shares of The Simply Good Foods Company (NASDAQ:SMPL) have been assigned an average rating of “Buy” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $27.63.

SMPL has been the topic of a number of analyst reports. Seaport Global Securities started coverage on shares of The Simply Good Foods in a research report on Tuesday, July 28th. They issued a “buy” rating and a $27.00 price objective on the stock. Morgan Stanley started coverage on shares of The Simply Good Foods in a research note on Tuesday, September 22nd. They issued an “overweight” rating and a $26.00 target price for the company. Citigroup lifted their target price on shares of The Simply Good Foods from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Wells Fargo & Company lowered their target price on shares of The Simply Good Foods from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Finally, DA Davidson lifted their target price on shares of The Simply Good Foods from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. They noted that the move was a valuation call.

A number of hedge funds and other institutional investors have recently made changes to their positions in SMPL. Nisa Investment Advisors LLC acquired a new position in shares of The Simply Good Foods in the 3rd quarter valued at $51,000. Envestnet Asset Management Inc. lifted its stake in shares of The Simply Good Foods by 35.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 39,703 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 10,436 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of The Simply Good Foods by 29.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 59,155 shares of the financial services provider’s stock valued at $1,099,000 after purchasing an additional 13,552 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of The Simply Good Foods by 57.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 275,974 shares of the financial services provider’s stock valued at $5,128,000 after purchasing an additional 100,599 shares during the period. Finally, Handelsbanken Fonder AB acquired a new position in shares of The Simply Good Foods in the 2nd quarter valued at $3,716,000. Institutional investors and hedge funds own 88.94% of the company’s stock.

Shares of The Simply Good Foods stock opened at $21.15 on Thursday. The firm’s 50 day moving average price is $22.25 and its 200-day moving average price is $20.64. The company has a quick ratio of 2.24, a current ratio of 3.20 and a debt-to-equity ratio of 0.51. The Simply Good Foods has a 52-week low of $14.08 and a 52-week high of $28.95. The company has a market cap of $2.02 billion, a P/E ratio of 70.50 and a beta of 0.78.

About The Simply Good Foods

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, and Atkins Endulge brand names. The company is headquartered in Denver, Colorado.

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Analyst Recommendations for The Simply Good Foods (NASDAQ:SMPL)

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