Simply Good Foods (NASDAQ:SMPL) Reaches New 1-Year Low – Time to Sell?

The Simply Good Foods Company (NASDAQ:SMPL)’s stock price 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 research analysts have commented on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Morgan Stanley set a $24.00 price target on Simply Good Foods in a research note on Monday, October 27th. Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $22.00 target price on shares of Simply Good Foods in a research note on Monday, December 15th. Finally, Zacks Research upgraded shares of Simply Good Foods from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Simply Good Foods currently has an average rating of “Hold” and an average target price of $29.67.

Simply Good Foods Stock Performance

The company has a market cap of $1.55 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 2.02 and a beta of 0.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.01 and a quick ratio of 3.24. The firm has a fifty day simple moving average of $19.10 and a 200 day simple moving average of $22.43.

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

Institutional Investors Weigh In On Simply Good Foods

Several hedge funds have recently modified their holdings of SMPL. Marshall Wace LLP bought a new position in Simply Good Foods during the third quarter worth $31,825,000. Norges Bank bought a new position in shares of Simply Good Foods during the 2nd quarter worth about $36,419,000. Millennium Management LLC increased its holdings 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 purchasing an additional 1,032,358 shares during the period. Voloridge Investment Management LLC raised its position in shares of Simply Good Foods by 781.1% during the third quarter. Voloridge Investment Management LLC now owns 902,397 shares of the financial services provider’s stock valued at $22,397,000 after buying an additional 799,983 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of 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 valued at $32,607,000 after buying an additional 715,110 shares during the period. 88.45% of the stock is owned by institutional investors.

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.