Simply Good Foods (NASDAQ:SMPL) Reaches New 1-Year Low – Here’s What Happened

The Simply Good Foods Company (NASDAQ:SMPL)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $10.21 and last traded at $12.2210, with a volume of 2474882 shares changing hands. The stock had previously closed at $14.41.

Analyst Ratings Changes

Several research firms recently weighed in on SMPL. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $22.00 price target on shares of Simply Good Foods in a report on Monday, December 15th. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a report on Monday, December 29th. Mizuho set a $30.00 target price on Simply Good Foods in a research note on Thursday, January 15th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Finally, Zacks Research lowered Simply Good Foods from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.33.

Simply Good Foods Stock Performance

The company has a quick ratio of 3.24, a current ratio of 5.01 and a debt-to-equity ratio of 0.23. The business has a 50 day simple moving average of $15.75 and a two-hundred day simple moving average of $19.18. The firm has a market cap of $1.09 billion, a PE ratio of 13.26 and a beta of 0.33.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.During the same quarter in the prior year, the business posted $0.46 EPS. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Simply Good Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in SMPL. River Road Asset Management LLC bought a new position in shares of Simply Good Foods during the 4th quarter worth $31,857,000. Marshall Wace LLP bought a new position in shares of Simply Good Foods during the 3rd quarter worth $31,825,000. Millennium Management LLC grew its position in shares of Simply Good Foods by 482.7% during the 3rd quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock worth $30,932,000 after buying an additional 1,032,358 shares in the last quarter. Voloridge Investment Management LLC grew its position in shares of Simply Good Foods by 781.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock worth $22,397,000 after buying an additional 799,983 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in shares of Simply Good Foods by 119.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,313,726 shares of the financial services provider’s stock worth $32,607,000 after buying an additional 715,110 shares in the last quarter. 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.