Simply Good Foods (NASDAQ:SMPL) Sets New 12-Month Low – Here’s What Happened

The Simply Good Foods Company (NASDAQ:SMPL)’s share price reached a new 52-week low on Thursday . The company traded as low as $13.62 and last traded at $13.8580, with a volume of 95806 shares changing hands. The stock had previously closed at $14.20.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SMPL shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $22.00 target price on shares of Simply Good Foods in a report on Monday, December 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Simply Good Foods in a research report on Monday, December 29th. Jefferies Financial Group upgraded Simply Good Foods from a “hold” rating to a “buy” rating and decreased their price objective for the company from $23.00 to $22.00 in a research note on Monday, March 16th. Sanford C. Bernstein reissued an “outperform” rating on shares of Simply Good Foods in a report on Friday, January 9th. Finally, Zacks Research downgraded Simply Good Foods from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.11.

Simply Good Foods Price Performance

The stock has a market capitalization of $1.29 billion, a PE ratio of 15.44 and a beta of 0.26. The business’s 50-day moving average price is $16.33 and its 200 day moving average price is $19.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings data on Thursday, January 8th. The financial services provider reported $0.39 earnings per share (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 company had revenue of $340.20 million for the quarter, compared to the consensus estimate of $337.64 million. During the same quarter last year, the business posted $0.49 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. Research analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Institutional Trading of Simply Good Foods

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in shares of Simply Good Foods by 125.4% during the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 538 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in Simply Good Foods in the third quarter valued at approximately $36,000. Hantz Financial Services Inc. raised its stake in Simply Good Foods by 82.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 807 shares in the last quarter. Parallel Advisors LLC lifted 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 valued at $43,000 after purchasing an additional 1,331 shares during the last quarter. Finally, CWM LLC lifted its position in Simply Good Foods by 343.0% during the third quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 2,017 shares during the last quarter. Institutional investors own 88.45% of the company’s stock.

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.