Simply Good Foods (NASDAQ:SMPL) Reaches New 12-Month Low – Here’s Why

The Simply Good Foods Company (NASDAQ:SMPL) reached a new 52-week low during trading on Thursday . The stock traded as low as $9.97 and last traded at $9.8840, with a volume of 142053 shares trading hands. The stock had previously closed at $10.25.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a report on Thursday, June 18th. TD Cowen reaffirmed a “hold” rating on shares of Simply Good Foods in a report on Friday, July 10th. Morgan Stanley reduced their target price 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 reissued an “equal weight” rating and issued a $14.00 price target (down from $24.00) on shares of Simply Good Foods in a research note on Friday, April 10th. Finally, Jefferies Financial Group set a $17.00 price target on shares of Simply Good Foods in a research report on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Simply Good Foods has a consensus rating of “Hold” and a consensus target price of $15.20.

Simply Good Foods Price Performance

The stock has a 50 day simple moving average of $12.03 and a two-hundred day simple moving average of $14.12. The company has a market cap of $900.52 million, a price-to-earnings ratio of -4.69 and a beta of 0.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10.

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

Insider Activity

In other news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased 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 owned 111,743 shares of the company’s stock, valued at $1,316,332.54. This trade represents a 9.83% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.76% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

A number of institutional investors have recently bought and sold shares of SMPL. Royal Bank of Canada boosted its holdings in Simply Good Foods by 9.0% in the 1st quarter. Royal Bank of Canada now owns 71,023 shares of the financial services provider’s stock valued at $2,448,000 after purchasing an additional 5,893 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Simply Good Foods by 3.4% during the 1st quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider’s stock worth $656,000 after buying an additional 617 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Simply Good Foods by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,819 shares of the financial services provider’s stock worth $1,891,000 after buying an additional 2,850 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Simply Good Foods during the 1st quarter valued at approximately $264,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Simply Good Foods by 10.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,229 shares of the financial services provider’s stock valued at $7,734,000 after buying an additional 21,696 shares during the period. 88.45% of the stock is 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.