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

Shares of The Simply Good Foods Company (NASDAQ:SMPL) reached a new 52-week low on Thursday . The stock traded as low as $10.12 and last traded at $10.20, with a volume of 462036 shares trading hands. The stock had previously closed at $10.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SMPL shares. Sanford C. Bernstein cut shares of Simply Good Foods from an “outperform” rating to a “market perform” rating and cut their target price for the company from $17.00 to $12.00 in a report on Wednesday, June 3rd. 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. UBS Group set a $15.00 price objective on shares of Simply Good Foods in a research note 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 report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $14.00 target price on shares of Simply Good Foods in a research note on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Simply Good Foods has an average rating of “Hold” and an average price target of $15.20.

Simply Good Foods Trading Down 3.0%

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 capitalization of $903.80 million, a PE ratio of -4.71 and a beta of 0.13. The business’s 50-day moving average is $12.19 and its two-hundred day moving average is $14.55.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Thursday, July 9th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.35 by $0.07. The company had revenue of $356.98 million during the quarter, compared to analysts’ expectations of $332.99 million. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. As a group, equities research analysts anticipate that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Insider Buying and Selling

In other Simply Good Foods news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $11.78 per share, with a total value of $117,800.00. Following 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.76% of the stock is currently owned by insiders.

Institutional Trading of Simply Good Foods

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in Simply Good Foods by 9.0% in the first quarter. Royal Bank of Canada now owns 71,023 shares of the financial services provider’s stock worth $2,448,000 after acquiring an additional 5,893 shares in the last quarter. AQR Capital Management LLC grew its stake 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 purchasing an additional 617 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 purchasing an additional 2,850 shares during the period. Caxton Associates LLP purchased a new position in shares of Simply Good Foods in the 1st quarter valued at about $264,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Simply Good Foods by 10.7% in 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 purchasing an additional 21,696 shares in the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

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.