Simply Good Foods (NASDAQ:SMPL) Share Price Breaks Below 200 Day Moving Average – Time to Sell?

Shares of The Simply Good Foods Company (NASDAQ:SMPL) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $11.60 and traded as low as $11.10. Simply Good Foods shares last traded at $11.19, with a volume of 1,844,033 shares trading hands.

Analysts Set New Price Targets

SMPL has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $14.00 price objective on shares of Simply Good Foods in a report on Friday, July 10th. TD Cowen dropped their target price on Simply Good Foods from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 26th. Jefferies Financial Group set a $15.00 target price on Simply Good Foods in a report on Wednesday, August 26th. DA Davidson cut their target price on Simply Good Foods from $39.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Finally, UBS Group set a $15.00 target price on Simply Good Foods in a research report on Friday, July 10th. Three equities 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.45.

Simply Good Foods Stock Performance

The company’s fifty day moving average price is $10.50 and its 200 day moving average price is $11.60. The company has a market cap of $989.88 million, a PE ratio of -5.16 and a beta of 0.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10.

Institutional Investors Weigh In On Simply Good Foods

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in Simply Good Foods in the 2nd quarter valued at $2,566,000. Oaktree Capital Management LP purchased a new stake in shares of Simply Good Foods during the 1st quarter valued at $16,200,000. Pacer Advisors Inc. bought a new stake in shares of Simply Good Foods during the 4th quarter worth $6,499,000. Bank of New York Mellon Corp bought a new stake in shares of Simply Good Foods during the 2nd quarter worth $7,393,000. Finally, Kestrel Investment Management Corp raised its stake in shares of Simply Good Foods by 90.3% during the 1st quarter. Kestrel Investment Management Corp now owns 258,050 shares of the financial services provider’s stock worth $3,703,000 after purchasing an additional 122,475 shares during the period. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Company Profile

The Simply Good Foods Company (NASDAQ:SMPL) is a consumer packaged food company focused on nutritious and convenient foods and beverages. Its portfolio is built around products that support lower-sugar, higher-protein, and other health-conscious eating preferences.

The company’s principal brands include Atkins, which offers nutrition products such as bars, shakes, snacks, frozen foods, and other items associated with low-carbohydrate lifestyles, and Quest, which markets protein bars, cookies, chips, pizza, shakes, and other high-protein snacks.