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

The Simply Good Foods Company (NASDAQ:SMPL) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $10.21 and last traded at $12.2210, with a volume of 2474882 shares traded. The stock had previously closed at $14.41.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Simply Good Foods in a research report on Monday, December 29th. UBS Group dropped their price objective on Simply Good Foods from $23.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $22.00 price objective on shares of Simply Good Foods in a research report on Monday, December 15th. Zacks Research downgraded Simply Good Foods from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Mizuho set a $30.00 price objective on Simply Good Foods in a research report on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.33.

Simply Good Foods Stock Performance

The business has a 50-day moving average of $15.75 and a two-hundred day moving average of $19.18. The company has a market cap of $1.09 billion, a P/E ratio of 13.26 and a beta of 0.33. 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 issued its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The business’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. On average, sell-side analysts predict that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Simply Good Foods

Several institutional investors have recently added to or reduced their stakes in SMPL. River Road Asset Management LLC acquired a new stake in Simply Good Foods in the fourth quarter worth about $31,857,000. Marshall Wace LLP acquired a new stake in Simply Good Foods in the third quarter worth about $31,825,000. Millennium Management LLC boosted its holdings in Simply Good Foods by 482.7% in the third quarter. Millennium Management LLC now owns 1,246,236 shares of the financial services provider’s stock worth $30,932,000 after acquiring an additional 1,032,358 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in Simply Good Foods by 781.1% in the third quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock worth $22,397,000 after acquiring an additional 799,983 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Simply Good Foods by 119.5% in the third quarter. Qube Research & Technologies Ltd now owns 1,313,726 shares of the financial services provider’s stock worth $32,607,000 after acquiring an additional 715,110 shares in the last quarter. Institutional investors and hedge funds 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.