Simply Good Foods (NASDAQ:SMPL) Sets New 12-Month Low – Time to Sell?

The Simply Good Foods Company (NASDAQ:SMPL) shares hit a new 52-week low during trading on Monday . The stock traded as low as $27.00 and last traded at $27.04, with a volume of 15366 shares trading hands. The stock had previously closed at $27.14.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Mizuho dropped their price target on Simply Good Foods from $47.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 15th. Sanford C. Bernstein set a $45.00 target price on Simply Good Foods and gave the stock an “outperform” rating in a report on Friday, July 11th. Wall Street Zen downgraded shares of Simply Good Foods from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Citigroup reduced their price objective on shares of Simply Good Foods from $43.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, June 18th. Finally, Stifel Nicolaus decreased their target price on shares of Simply Good Foods from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.88.

Simply Good Foods Stock Down 2.3%

The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2.67 billion, a PE ratio of 18.55, a P/E/G ratio of 2.51 and a beta of 0.59. The stock’s fifty day simple moving average is $30.26 and its 200-day simple moving average is $33.13.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The company had revenue of $380.96 million for the quarter, compared to analyst estimates of $381.68 million. During the same period last year, the firm earned $0.50 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts forecast that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, CEO Geoff E. Tanner bought 6,050 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were purchased at an average price of $33.11 per share, for a total transaction of $200,315.50. Following the purchase, the chief executive officer directly owned 98,190 shares of the company’s stock, valued at approximately $3,251,070.90. This represents a 6.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Simply Good Foods

A number of hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 538 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Simply Good Foods during the first quarter valued at about $54,000. Caitong International Asset Management Co. Ltd purchased a new stake in Simply Good Foods during the first quarter worth about $55,000. Quarry LP increased its holdings in Simply Good Foods by 59.7% during the first quarter. Quarry LP now owns 2,009 shares of the financial services provider’s stock worth $69,000 after buying an additional 751 shares during the last quarter. Finally, State of Wyoming bought a new stake in Simply Good Foods in the second quarter worth about $87,000. 88.45% of the stock is currently owned by institutional investors.

Simply Good Foods Company Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.