Simply Good Foods (NASDAQ:SMPL) Sets New 52-Week Low – Here’s What Happened

The Simply Good Foods Company (NASDAQ:SMPL) reached a new 52-week low on Thursday . The company traded as low as $10.12 and last traded at $10.20, with a volume of 462036 shares changing hands. The stock had previously closed at $10.53.

Wall Street Analyst Weigh In

SMPL has been the subject of several analyst reports. Mizuho set a $19.00 target price on Simply Good Foods in a research report on Monday, May 4th. Stifel Nicolaus reduced their price target 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. Sanford C. Bernstein cut Simply Good Foods from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $17.00 to $12.00 in a research note on Wednesday, June 3rd. Zacks Research raised Simply Good Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, TD Cowen restated a “hold” rating on shares of Simply Good Foods in a research report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Simply Good Foods presently has a consensus rating of “Hold” and an average price target of $15.20.

Simply Good Foods Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.10 and a current ratio of 4.80. The stock’s 50 day moving average price is $12.14 and its 200 day moving average price is $14.45. The company has a market capitalization of $904.06 million, a P/E ratio of -4.71 and a beta of 0.13.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The business had revenue of $356.98 million during 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%. Simply Good Foods’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. As a group, equities analysts expect that The Simply Good Foods Company will post 1.54 EPS for the current year.

Insiders Place Their Bets

In other Simply Good Foods news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $11.78 per share, for a total transaction of $117,800.00. Following the acquisition, the director owned 111,743 shares in the company, valued at approximately $1,316,332.54. The trade was a 9.83% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.76% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

Several institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 538 shares in the last quarter. Leonteq Securities AG lifted its stake in Simply Good Foods by 96.2% in the first quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,132 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Simply Good Foods by 82.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after buying an additional 807 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Simply Good Foods during the 3rd quarter worth approximately $36,000. Finally, Parallel Advisors LLC grew its position in shares of Simply Good Foods by 167.4% during the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,331 shares during the period. Institutional investors own 88.45% of the company’s stock.

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.