Simply Good Foods (NASDAQ:SMPL) Hits New 1-Year Low – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SMPL. Mizuho set a $30.00 price target on Simply Good Foods in a report on Thursday, January 15th. Morgan Stanley set a $24.00 price objective on shares of Simply Good Foods in a research report on Monday, October 27th. Stifel Nicolaus set a $32.00 target price on shares of Simply Good Foods in a research report on Friday, October 24th. Jefferies Financial Group decreased their price target on shares of Simply Good Foods from $32.00 to $27.00 and set a “hold” rating on the stock in a research note on Wednesday, October 22nd. Finally, UBS Group restated a “neutral” rating on shares of Simply Good Foods in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Simply Good Foods currently has a consensus rating of “Hold” and a consensus price target of $29.67.

Simply Good Foods Price 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 company has a 50-day moving average price of $19.76 and a 200-day moving average price of $23.78. The firm has a market capitalization of $1.68 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.44 and a beta of 0.27.

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. The firm had revenue of $340.20 million for the quarter, compared to analyst estimates of $337.64 million. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. On average, sell-side analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael L. Clawson acquired 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the insider owned 37,620 shares in the company, valued at $752,400. This trade represents a 15.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Bealer bought 9,946 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was purchased at an average price of $20.01 per share, for a total transaction of $199,019.46. Following the completion of the acquisition, the chief financial officer owned 32,966 shares of the company’s stock, valued at approximately $659,649.66. This trade 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 insiders.

Institutional Investors Weigh In On Simply Good Foods

A number of hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd bought a new stake in shares of Simply Good Foods during the 2nd quarter worth approximately $612,000. Econ Financial Services Corp acquired a new position in Simply Good Foods during the second quarter worth $830,000. Thornburg Investment Management Inc. acquired a new position in Simply Good Foods during the second quarter worth $8,238,000. Savoir Faire Capital Management L.P. raised its position in Simply Good Foods by 96.8% during the third quarter. Savoir Faire Capital Management L.P. now owns 145,956 shares of the financial services provider’s stock worth $3,623,000 after acquiring an additional 71,773 shares in the last quarter. Finally, Norges Bank acquired a new stake in Simply Good Foods in the second quarter valued at $36,419,000. Institutional investors and hedge funds 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.