Simply Good Foods (NASDAQ:SMPL) Hits New 1-Year Low – Here’s Why

Shares of The Simply Good Foods Company (NASDAQ:SMPL) hit a new 52-week low during trading on Monday . The company traded as low as $16.71 and last traded at $16.9210, with a volume of 334065 shares trading hands. The stock had previously closed at $17.33.

Analysts Set New Price Targets

A number of research firms have weighed in on SMPL. Jefferies Financial Group dropped their price objective on shares of Simply Good Foods from $32.00 to $27.00 and set a “hold” rating on the stock in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $22.00 target price on shares of Simply Good Foods in a report on Monday, December 15th. Morgan Stanley set a $24.00 price target on shares of Simply Good Foods in a research report on Monday, October 27th. Stifel Nicolaus set a $32.00 price objective on Simply Good Foods in a report on Friday, October 24th. Finally, Mizuho set a $30.00 target price on Simply Good Foods in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.67.

Simply Good Foods Price Performance

The stock has a market cap of $1.52 billion, a PE ratio of 18.23, a P/E/G ratio of 2.14 and a beta of 0.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01. The business has a 50 day moving average price of $19.43 and a two-hundred day moving average price of $23.01.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, January 8th. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $340.20 million for the quarter, compared to analyst estimates of $337.64 million. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.Simply Good Foods’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. Research analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael L. Clawson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the insider owned 37,620 shares of the company’s stock, valued at approximately $752,400. This represents a 15.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 538 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Simply Good Foods in the third quarter valued at $36,000. Hantz Financial Services Inc. lifted its position in shares of Simply Good Foods by 82.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock valued at $36,000 after buying an additional 807 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Simply Good Foods by 167.4% during the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,331 shares during the period. Finally, CWM LLC grew its stake in shares of Simply Good Foods by 343.0% during the 3rd quarter. CWM LLC now owns 2,605 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 2,017 shares during the period. 88.45% of the stock is owned by 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.