Simply Good Foods (NASDAQ:SMPL) Earns “Buy” Rating from Needham & Company LLC

Simply Good Foods (NASDAQ:SMPL)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $41.00 price target on the financial services provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 13.13% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus lowered their price target on shares of Simply Good Foods from $48.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $42.00 price objective (up from $41.00) on shares of Simply Good Foods in a research note on Tuesday, January 2nd. Mizuho reissued a “buy” rating and set a $50.00 target price on shares of Simply Good Foods in a research report on Friday, April 5th. TD Cowen started coverage on Simply Good Foods in a research note on Monday, April 22nd. They set a “hold” rating and a $34.00 target price on the stock. Finally, Morgan Stanley reissued an “overweight” rating and set a $42.00 price target on shares of Simply Good Foods in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.29.

Simply Good Foods Price Performance

Shares of NASDAQ:SMPL traded up $1.99 during mid-day trading on Tuesday, reaching $36.24. The stock had a trading volume of 812,833 shares, compared to its average volume of 926,371. The company has a market cap of $3.62 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. The business’s 50 day moving average price is $33.75 and its 200 day moving average price is $36.78. The company has a current ratio of 4.20, a quick ratio of 3.09 and a debt-to-equity ratio of 0.14. Simply Good Foods has a 1 year low of $30.00 and a 1 year high of $43.00.

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

Hedge Funds Weigh In On Simply Good Foods

Several hedge funds and other institutional investors have recently made changes to their positions in SMPL. McCollum Christoferson Group LLC increased its position in Simply Good Foods by 2.8% during the first quarter. McCollum Christoferson Group LLC now owns 135,609 shares of the financial services provider’s stock worth $4,615,000 after purchasing an additional 3,635 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Simply Good Foods by 248.8% in the first quarter. Assenagon Asset Management S.A. now owns 333,760 shares of the financial services provider’s stock worth $11,358,000 after acquiring an additional 238,064 shares in the last quarter. Wesbanco Bank Inc. purchased a new stake in Simply Good Foods during the 1st quarter worth about $1,427,000. Norden Group LLC increased its stake in shares of Simply Good Foods by 1,949.9% during the first quarter. Norden Group LLC now owns 210,690 shares of the financial services provider’s stock worth $7,170,000 after buying an additional 200,412 shares during the period. Finally, Congress Wealth Management LLC DE raised its holdings in shares of Simply Good Foods by 5.5% in the 1st quarter. Congress Wealth Management LLC DE now owns 198,854 shares of the financial services provider’s stock valued at $6,767,000 after purchasing an additional 10,376 shares in the last quarter. Hedge funds and other institutional investors 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.