Simply Good Foods (NASDAQ:SMPL) Hits New 52-Week Low – Time to Sell?

Shares of The Simply Good Foods Company (NASDAQ:SMPL) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $15.65 and last traded at $15.50, with a volume of 191580 shares traded. The stock had previously closed at $15.95.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SMPL. UBS Group reiterated a “neutral” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Simply Good Foods in a research report on Friday, January 9th. Morgan Stanley set a $24.00 target price on Simply Good Foods in a report on Monday, October 27th. Mizuho set a $30.00 price objective on shares of Simply Good Foods in a research note on Thursday, January 15th. Finally, Jefferies Financial Group decreased their target price on shares of Simply Good Foods from $32.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.67.

Simply Good Foods Price Performance

The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 2.08 and a beta of 0.25. The company has a current ratio of 5.01, a quick ratio of 3.24 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average is $19.21 and its 200-day moving average is $22.58.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Thursday, January 8th. The financial services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The firm had revenue of $340.20 million during the quarter, compared to analysts’ expectations of $337.64 million. During the same period in the prior year, the company earned $0.49 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts predict that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Institutional Investors Weigh In On Simply Good Foods

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in Simply Good Foods by 125.4% in the 2nd 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 position in shares of Simply Good Foods in the 3rd quarter valued at $36,000. Hantz Financial Services Inc. boosted its holdings 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 acquiring an additional 807 shares in the last quarter. Parallel Advisors LLC grew its position in 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 last quarter. Finally, CWM LLC grew its position in 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 last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

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.