Simply Good Foods (NASDAQ:SMPL) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

The Simply Good Foods Company (NASDAQ:SMPL) passed 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 Ratings Changes

Several equities analysts recently issued reports on SMPL shares. Zacks Research lowered shares of Simply Good Foods from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. DA Davidson set a $12.00 target price on Simply Good Foods in a report on Monday, October 26th. Weiss Ratings cut Simply Good Foods from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, October 28th. Truist Financial set a $11.00 price target on Simply Good Foods in a report on Wednesday, August 26th. Finally, Jefferies Financial Group downgraded Simply Good Foods from a “buy” rating to a “hold” rating and cut their price target for the company from $15.00 to $11.00 in a report on Wednesday, October 28th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.36.

Simply Good Foods Stock Down 4.0%

The business’s fifty day moving average price is $10.60 and its two-hundred day moving average price is $12.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.87 and a current ratio of 5.57. The firm has a market capitalization of $1.05 billion, a P/E ratio of -7.05 and a beta of 0.08.

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

Institutional Trading of Simply Good Foods

A number of institutional investors have recently bought and sold shares of SMPL. Public Employees Retirement System of Ohio acquired a new position in Simply Good Foods during the 2nd quarter valued at approximately $30,000. Parallel Advisors LLC raised its holdings in shares of Simply Good Foods by 47.4% in the third quarter. Parallel Advisors LLC now owns 4,266 shares of the financial services provider’s stock worth $40,000 after buying an additional 1,372 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Simply Good Foods by 244.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,995 shares of the financial services provider’s stock worth $43,000 after buying an additional 2,125 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Simply Good Foods by 91.0% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 6,256 shares of the financial services provider’s stock worth $59,000 after buying an additional 2,981 shares during the period. Finally, Allworth Financial LP acquired a new stake in shares of Simply Good Foods during the second quarter worth $72,000. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Simply Good Foods Company Profile

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.