Simply Good Foods (NASDAQ:SMPL) Sets New 1-Year Low – What’s Next?

The Simply Good Foods Company (NASDAQ:SMPL)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $9.97 and last traded at $9.8840, with a volume of 142053 shares traded. The stock had previously closed at $10.25.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SMPL shares. Zacks Research upgraded Simply Good Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 price objective on shares of Simply Good Foods in a report on Friday, July 10th. Morgan Stanley decreased their price objective on Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, April 10th. Sanford C. Bernstein downgraded Simply Good Foods from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $17.00 to $12.00 in a research report on Wednesday, June 3rd. Finally, Mizuho set a $19.00 target price on Simply Good Foods in a research note on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Simply Good Foods has a consensus rating of “Hold” and a consensus target price 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 business has a 50 day moving average price of $12.08 and a two-hundred day moving average price of $14.23. The company has a market cap of $894.33 million, a P/E ratio of -4.66 and a beta of 0.13.

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

Insider Buying and Selling at Simply Good Foods

In other news, Director Clayton C. Daley, Jr. bought 10,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the acquisition, the director owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. This trade represents a 9.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 8.76% of the company’s stock.

Institutional Investors Weigh In On Simply Good Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrive Wealth Management LLC bought a new stake in Simply Good Foods in the 2nd quarter worth $234,000. GAMMA Investing LLC increased its position in shares of Simply Good Foods by 385.3% in the second quarter. GAMMA Investing LLC now owns 13,594 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 10,793 shares during the period. Versant Capital Management Inc raised its stake in shares of Simply Good Foods by 180.9% during the second quarter. Versant Capital Management Inc now owns 6,942 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 4,471 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Simply Good Foods by 45.0% during the first quarter. Pacer Advisors Inc. now owns 469,445 shares of the financial services provider’s stock valued at $6,737,000 after acquiring an additional 145,771 shares during the last quarter. Finally, Oaktree Capital Management LP purchased a new stake in shares of Simply Good Foods during the first quarter worth about $16,200,000. 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.