Simply Good Foods (NASDAQ:SMPL) Sets New 12-Month Low – Here’s What Happened

The Simply Good Foods Company (NASDAQ:SMPL)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $13.62 and last traded at $13.8580, with a volume of 95806 shares trading hands. The stock had previously closed at $14.20.

Analysts Set New Price Targets

SMPL has been the topic of several recent analyst reports. Mizuho set a $30.00 target price on shares of Simply Good Foods in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $22.00 price target on shares of Simply Good Foods in a research report on Monday, December 15th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Simply Good Foods in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Simply Good Foods in a research report on Monday, December 29th. Finally, Jefferies Financial Group upgraded Simply Good Foods from a “hold” rating to a “buy” rating and reduced their price objective for the company from $23.00 to $22.00 in a research note on Monday, March 16th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Simply Good Foods presently has an average rating of “Hold” and an average price target of $29.11.

Simply Good Foods Trading Down 1.9%

The stock’s 50 day simple moving average is $16.33 and its two-hundred day simple moving average is $19.61. The stock has a market capitalization of $1.29 billion, a PE ratio of 15.44 and a beta of 0.26. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.01 and a quick ratio of 3.24.

Simply Good Foods (NASDAQ:SMPL) last posted 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. Simply Good Foods had a net margin of 6.26% and a return on equity of 9.56%. The company had revenue of $340.20 million for the quarter, compared to analysts’ expectations of $337.64 million. During the same quarter in the previous year, the firm posted $0.49 EPS. Simply Good Foods’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts expect that The Simply Good Foods Company will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new stake in Simply Good Foods in the 4th quarter worth about $599,000. Corient Private Wealth LLC purchased a new stake in Simply Good Foods during the fourth quarter valued at about $302,000. Villanova Investment Management Co LLC bought a new position in Simply Good Foods during the fourth quarter worth about $1,794,000. River Road Asset Management LLC purchased a new position in shares of Simply Good Foods in the fourth quarter worth about $31,857,000. Finally, Pacer Advisors Inc. bought a new stake in shares of Simply Good Foods in the fourth quarter valued at approximately $6,499,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Company Profile

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.