Simply Good Foods (NASDAQ:SMPL) Shares Down 5.5% – What’s Next?

The Simply Good Foods Company (NASDAQ:SMPL) fell 5.5% during mid-day trading on Tuesday . The company traded as low as $12.57 and last traded at $12.5760. 263,538 shares changed hands during trading, a decline of 90% from the average daily volume of 2,563,290 shares. The stock had previously closed at $13.31.

Analysts Set New Price Targets

A number of research firms have recently commented on SMPL. Stephens reiterated an “equal weight” rating and issued a $14.00 price objective (down from $24.00) on shares of Simply Good Foods in a report on Friday, April 10th. TD Cowen reaffirmed a “hold” rating on shares of Simply Good Foods in a report on Friday. Zacks Research upgraded shares of Simply Good Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Jefferies Financial Group set a $17.00 price objective on shares of Simply Good Foods in a report on Tuesday, June 30th. Finally, Morgan Stanley reduced their price objective 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. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.20.

Simply Good Foods Price Performance

The company has a 50-day moving average of $12.28 and a 200-day moving average of $14.97. 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 stock has a market cap of $1.10 billion, a price-to-earnings ratio of -5.73 and a beta of 0.13.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $332.99 million. During the same period last year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts predict that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Clayton C. Daley, Jr. bought 10,000 shares of the stock in a transaction dated 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 acquisition, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James M. Kilts purchased 80,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were purchased at an average price of $12.39 per share, for a total transaction of $991,200.00. Following the completion of the purchase, the director owned 172,854 shares of the company’s stock, valued at approximately $2,141,661.06. This trade represents a 86.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 8.76% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SMPL. EverSource Wealth Advisors LLC increased its holdings in Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after buying an additional 538 shares in the last quarter. Leonteq Securities AG raised its position in shares of Simply Good Foods by 96.2% in the first quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,132 shares during the last quarter. Hantz Financial Services Inc. boosted its position in Simply Good Foods by 82.3% during the fourth 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 last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Simply Good Foods during the third quarter worth $36,000. Finally, Parallel Advisors LLC grew 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 buying an additional 1,331 shares during the period. Hedge funds and other 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.