Simply Good Foods (NASDAQ:SMPL) Sets New 52-Week Low – What’s Next?

The Simply Good Foods Company (NASDAQ:SMPL) shares hit a new 52-week low on Thursday . The stock traded as low as $10.12 and last traded at $10.20, with a volume of 462036 shares. The stock had previously closed at $10.53.

Analyst Upgrades and Downgrades

SMPL has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Stephens reaffirmed an “equal weight” rating and issued a $14.00 price objective (down from $24.00) on shares of Simply Good Foods in a research note on Friday, April 10th. Mizuho set a $19.00 price objective on Simply Good Foods in a report on Monday, May 4th. Stifel Nicolaus decreased their target price on Simply Good Foods from $32.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Finally, DA Davidson lowered their target price on Simply Good Foods from $39.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Simply Good Foods presently has an average rating of “Hold” and a consensus target price of $15.20.

Simply Good Foods Price 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 company has a 50-day moving average of $12.19 and a 200-day moving average of $14.55. The stock has a market capitalization of $903.80 million, a price-to-earnings ratio of -4.71 and a beta of 0.13.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%.The company had revenue of $356.98 million during the quarter, compared to the consensus estimate of $332.99 million. During the same quarter last year, the business posted $0.51 earnings per share. Simply Good Foods’s revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that The Simply Good Foods Company will post 1.54 earnings per share for the current fiscal year.

Insider Activity at Simply Good Foods

In related news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $11.78 per share, with a total value of $117,800.00. Following the completion of the purchase, the director directly owned 111,743 shares in the company, valued at approximately $1,316,332.54. The trade was a 9.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMPL. 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 buying an additional 538 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in Simply Good Foods in the 3rd quarter worth approximately $36,000. Hantz Financial Services Inc. grew its stake in Simply Good Foods by 82.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 807 shares during the period. Parallel Advisors LLC raised its holdings in Simply Good Foods by 167.4% in the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,331 shares during the last quarter. Finally, Leonteq Securities AG raised its holdings in Simply Good Foods by 96.2% in the 1st quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,132 shares during the last quarter. 88.45% of the stock is currently owned by hedge funds and other 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.