Simply Good Foods (NASDAQ:SMPL) Sets New 1-Year Low – Time to Sell?

Shares of The Simply Good Foods Company (NASDAQ:SMPL) hit a new 52-week low on Monday . The company traded as low as $18.31 and last traded at $18.32, with a volume of 1237198 shares changing hands. The stock had previously closed at $18.77.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SMPL shares. UBS Group reiterated a “neutral” rating on shares of Simply Good Foods in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $22.00 price objective on shares of Simply Good Foods in a report on Monday, December 15th. Morgan Stanley set a $24.00 target price on shares of Simply Good Foods in a report on Monday, October 27th. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a report on Monday, December 29th. Finally, Mizuho set a $30.00 price target on Simply Good Foods in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.67.

Simply Good Foods Stock Up 3.8%

The firm’s 50-day simple moving average is $19.63 and its 200-day simple moving average is $23.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.22 and a beta of 0.25.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Thursday, January 8th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. Simply Good Foods had a net margin of 6.26% and a return on equity of 9.56%. The business had revenue of $340.20 million during the quarter, compared to analysts’ expectations of $337.64 million. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Sell-side analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In other Simply Good Foods news, insider Michael L. Clawson acquired 5,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $100,000.00. Following the transaction, the insider owned 37,620 shares in the company, valued at $752,400. This trade represents a 15.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Bealer acquired 9,946 shares of the stock in a transaction on Thursday, November 6th. The stock was bought at an average price of $20.01 per share, with a total value of $199,019.46. Following the transaction, the chief financial officer directly owned 32,966 shares in the company, valued at approximately $659,649.66. This represents a 43.21% increase in their position. The SEC filing for this purchase provides additional information. 8.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. William Blair Investment Management LLC bought a new stake in Simply Good Foods in the second quarter valued at about $48,841,000. Marshall Wace LLP acquired a new position in shares of Simply Good Foods during the 3rd quarter worth about $31,825,000. Norges Bank bought a new stake in shares of Simply Good Foods in the 2nd quarter valued at about $36,419,000. Millennium Management LLC raised its position in shares of Simply Good Foods by 482.7% in the 3rd quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock valued at $30,932,000 after acquiring an additional 1,032,358 shares during the period. Finally, Voloridge Investment Management LLC boosted its stake in Simply Good Foods by 781.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock worth $22,397,000 after acquiring an additional 799,983 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors.

About Simply Good Foods

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.