Simply Good Foods (NASDAQ:SMPL) Trading Down 5.5% – What’s Next?

Shares of The Simply Good Foods Company (NASDAQ:SMPL) were down 5.5% during trading on Tuesday . The stock traded as low as $12.57 and last traded at $12.5760. Approximately 263,538 shares traded hands during trading, a decline of 90% from the average daily volume of 2,563,290 shares. The stock had previously closed at $13.31.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SMPL shares. Mizuho set a $19.00 price target on shares of Simply Good Foods in a report on Monday, May 4th. Stifel Nicolaus cut their target price on Simply Good Foods from $32.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Stephens reiterated an “equal weight” rating and issued a $14.00 target price (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $14.00 price target on shares of Simply Good Foods in a research report on Friday. Finally, BTIG Research started coverage on Simply Good Foods in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Simply Good Foods presently has a consensus rating of “Hold” and a consensus target price of $15.20.

Simply Good Foods Stock Down 6.8%

The firm’s 50-day moving average price is $12.28 and its 200-day moving average price is $14.97. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -5.73 and a beta of 0.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Thursday, July 9th. The financial services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The business had revenue of $356.98 million for the quarter, compared to the consensus estimate of $332.99 million. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. Sell-side analysts forecast that The Simply Good Foods Company will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Simply Good Foods

In related news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $11.78 per share, with a total value of $117,800.00. Following the completion of the transaction, the director directly owned 111,743 shares of the company’s stock, valued at $1,316,332.54. This trade represents a 9.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Kilts acquired 80,000 shares of Simply Good Foods stock in a transaction on Thursday, April 23rd. The shares were bought at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the purchase, the director owned 172,854 shares of the company’s stock, valued at $2,141,661.06. This represents a 86.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 8.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Simply Good Foods

Several hedge funds and other institutional investors have recently bought and sold shares of SMPL. Vanguard Group Inc. boosted its stake in shares of Simply Good Foods by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 10,631,429 shares of the financial services provider’s stock valued at $213,479,000 after purchasing an additional 249,405 shares during the period. Pacer Advisors Inc. purchased a new stake in Simply Good Foods during the 4th quarter worth $6,499,000. New Age Alpha Advisors LLC lifted its holdings in Simply Good Foods by 2,413.6% in the 4th quarter. New Age Alpha Advisors LLC now owns 173,414 shares of the financial services provider’s stock worth $3,482,000 after buying an additional 166,515 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in Simply Good Foods by 468.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 208,385 shares of the financial services provider’s stock worth $5,172,000 after buying an additional 171,745 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in Simply Good Foods by 230.7% in the 4th quarter. Bessemer Group Inc. now owns 690,863 shares of the financial services provider’s stock valued at $13,873,000 after buying an additional 481,952 shares during the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

Simply Good Foods Company Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.