Simply Good Foods (NASDAQ:SMPL) Shares Break Below Two Hundred Day Moving Average – Here’s What Happened

Shares of The Simply Good Foods Company (NASDAQ:SMPL) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $12.76 and traded as low as $12.46. Simply Good Foods shares last traded at $12.55, with a volume of 2,051,104 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SMPL. DA Davidson set a $12.00 price target on shares of Simply Good Foods in a research report on Monday, October 26th. Stifel Nicolaus decreased their price objective on shares of Simply Good Foods from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Truist Financial set a $11.00 price objective on shares of Simply Good Foods in a report on Wednesday, August 26th. TD Cowen lowered their target price on shares of Simply Good Foods from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 target price on shares of Simply Good Foods in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.36.

Simply Good Foods Trading Down 5.6%

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -7.34 and a beta of 0.08. The business’s fifty day moving average is $10.56 and its 200 day moving average is $12.76. The company has a quick ratio of 3.87, a current ratio of 5.57 and a debt-to-equity ratio of 0.24.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Tuesday, October 27th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $333.31 million during the quarter, compared to analyst estimates of $327.03 million. Simply Good Foods had a negative net margin of 11.49% and a positive return on equity of 9.36%. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. Equities analysts predict that The Simply Good Foods Company will post 1.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SMPL. BlackRock Inc. acquired a new position in Simply Good Foods during the 2nd quarter worth approximately $180,913,000. Oaktree Capital Management LP bought a new position in shares of Simply Good Foods in the 1st quarter valued at about $16,200,000. Assenagon Asset Management S.A. grew its holdings in Simply Good Foods by 1,195.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,112,684 shares of the financial services provider’s stock worth $10,559,000 after purchasing an additional 1,026,775 shares during the period. Counterpoint Mutual Funds LLC increased its holdings in shares of Simply Good Foods by 3,594.3% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 978,657 shares of the financial services provider’s stock worth $9,287,000 after acquiring an additional 952,166 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Simply Good Foods by 179.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,472,753 shares of the financial services provider’s stock valued at $21,134,000 after purchasing an additional 946,216 shares during the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

About Simply Good Foods

The Simply Good Foods Company (NASDAQ: SMPL) is a consumer packaged food company focused on convenient, nutrition-focused products. Its portfolio is built around the Atkins and Quest brands, which serve consumers seeking lower-carbohydrate, higher-protein and better-for-you food options.

The company offers a variety of products, including protein bars, snack bars, shakes, cookies, chips, confectionery items, protein powders and frozen foods. Its products are sold through grocery stores, mass merchants, club stores, drugstores, convenience stores, e-commerce platforms and other retail channels.

Simply Good Foods was established in 2017 through the combination of Conyers Park Acquisition Corp.