Simply Good Foods (NASDAQ:SMPL) Hits New 12-Month Low – Here’s Why

The Simply Good Foods Company (NASDAQ:SMPL)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.71 and last traded at $13.91, with a volume of 2242176 shares changing hands. The stock had previously closed at $14.05.

Analyst Ratings Changes

Several brokerages recently weighed in on SMPL. Jefferies Financial Group raised shares of Simply Good Foods from a “hold” rating to a “buy” rating and cut their price objective for the company from $23.00 to $22.00 in a research report on Monday, March 16th. Mizuho set a $30.00 price target on shares of Simply Good Foods in a report on Thursday, January 15th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Simply Good Foods in a report on Friday, January 9th. Zacks Research lowered Simply Good Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $22.00 price target on shares of Simply Good Foods in a research note on Monday, December 15th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.11.

Simply Good Foods Stock Performance

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 stock’s 50-day simple moving average is $16.86 and its two-hundred day simple moving average is $20.03. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.87 and a beta of 0.26.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, January 8th. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The business had revenue of $340.20 million for the quarter, compared to analyst estimates of $337.64 million. During the same period in the previous year, the company posted $0.49 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Hedge Funds Weigh In On Simply Good Foods

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 538 shares during the period. Hantz Financial Services Inc. raised its position in shares of Simply Good Foods by 82.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock valued at $36,000 after buying an additional 807 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Simply Good Foods in the third quarter valued at about $36,000. Parallel Advisors LLC grew its position in Simply Good Foods by 167.4% during the fourth 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 in the last quarter. Finally, Empowered Funds LLC acquired a new position in Simply Good Foods in the 4th quarter valued at approximately $59,000. 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.