Mizuho Issues Pessimistic Forecast for Simply Good Foods (NASDAQ:SMPL) Stock Price

Simply Good Foods (NASDAQ:SMPL) had its price target dropped by equities research analysts at Mizuho from $48.00 to $45.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price objective would suggest a potential upside of 25.56% from the stock’s previous close.

Several other research firms have also recently issued reports on SMPL. Citigroup decreased their price objective on shares of Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Stephens dropped their price objective on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.22.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $35.84 on Friday. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 3.51 and a beta of 0.67. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23. Simply Good Foods has a 52 week low of $30.00 and a 52 week high of $42.37. The company has a fifty day simple moving average of $38.26 and a two-hundred day simple moving average of $35.44.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Wednesday, January 8th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The business had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $347.32 million. During the same quarter last year, the business posted $0.43 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Simply Good Foods will post 1.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Timothy Allen Matthews sold 5,325 shares of Simply Good Foods stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $37.31, for a total value of $198,675.75. Following the transaction, the chief accounting officer now directly owns 17,063 shares in the company, valued at $636,620.53. This trade represents a 23.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Scalzo sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total transaction of $899,750.00. Following the transaction, the director now owns 139,204 shares of the company’s stock, valued at approximately $5,009,951.96. The trade was a 15.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,869 shares of company stock valued at $12,139,570. Insiders own 9.35% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its holdings in shares of Simply Good Foods by 72.8% in the 2nd quarter. TD Asset Management Inc now owns 76,430 shares of the financial services provider’s stock valued at $2,761,000 after buying an additional 32,200 shares during the period. Arizona State Retirement System lifted its holdings in Simply Good Foods by 2.0% in the second quarter. Arizona State Retirement System now owns 26,592 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 533 shares during the period. American Century Companies Inc. boosted its position in shares of Simply Good Foods by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 19,943 shares of the financial services provider’s stock worth $721,000 after purchasing an additional 348 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of Simply Good Foods during the 2nd quarter worth $608,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Simply Good Foods by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,223,666 shares of the financial services provider’s stock valued at $116,468,000 after purchasing an additional 203,914 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.