Simply Good Foods (NASDAQ:SMPL) Sets New 52-Week Low at $30.00

Shares of The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $30.00 and last traded at $31.63, with a volume of 212069 shares traded. The stock had previously closed at $32.59.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. DA Davidson reduced their target price on shares of Simply Good Foods from $44.00 to $39.00 and set a "neutral" rating for the company in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $42.00 price target (up previously from $41.00) on shares of Simply Good Foods in a report on Tuesday, January 2nd. Needham & Company LLC increased their price target on shares of Simply Good Foods from $42.00 to $45.00 and gave the company a "buy" rating in a report on Friday, January 5th. Morgan Stanley cut their price target on shares of Simply Good Foods from $46.00 to $42.00 and set an "overweight" rating for the company in a report on Wednesday, March 20th. Finally, Stifel Nicolaus cut their price target on shares of Simply Good Foods from $48.00 to $38.00 and set a "buy" rating for the company in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Simply Good Foods presently has a consensus rating of "Moderate Buy" and an average target price of $41.57.

Simply Good Foods Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.46 and a current ratio of 5.02. The company's fifty day simple moving average is $35.06 and its two-hundred day simple moving average is $36.90. The stock has a market capitalization of $3.27 billion, a PE ratio of 24.98, a P/E/G ratio of 2.43 and a beta of 0.69.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its earnings results on Thursday, January 4th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Simply Good Foods had a net margin of 10.66% and a return on equity of 9.95%. The firm had revenue of $308.70 million during the quarter, compared to the consensus estimate of $309.26 million. During the same period last year, the firm posted $0.40 EPS. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts predict that The Simply Good Foods Company will post 1.69 EPS for the current year.

Insider Buying and Selling at Simply Good Foods

In other news, SVP Susan Hunsberger sold 35,010 shares of Simply Good Foods stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $40.63, for a total transaction of $1,422,456.30. Following the completion of the sale, the senior vice president now directly owns 30,768 shares in the company, valued at $1,250,103.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robert G. Montgomery sold 2,500 shares of Simply Good Foods stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $39.36, for a total transaction of $98,400.00. Following the completion of the sale, the director now directly owns 52,738 shares in the company, valued at $2,075,767.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Susan Hunsberger sold 35,010 shares of the firm's stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $40.63, for a total transaction of $1,422,456.30. Following the completion of the sale, the senior vice president now directly owns 30,768 shares in the company, valued at $1,250,103.84. The disclosure for this sale can be found here. In the last three months, insiders sold 38,558 shares of company stock worth $1,563,248. 10.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Simply Good Foods

Several hedge funds have recently modified their holdings of SMPL. Belpointe Asset Management LLC boosted its position in shares of Simply Good Foods by 235.7% in the first quarter. Belpointe Asset Management LLC now owns 621 shares of the financial services provider's stock worth $25,000 after acquiring an additional 436 shares during the last quarter. Point72 Middle East FZE acquired a new position in Simply Good Foods during the fourth quarter valued at approximately $30,000. Pacer Advisors Inc. lifted its position in Simply Good Foods by 121.5% during the fourth quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider's stock valued at $33,000 after buying an additional 457 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Simply Good Foods by 103.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider's stock valued at $34,000 after buying an additional 433 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Simply Good Foods during the fourth quarter valued at approximately $36,000. 88.45% of the stock is owned by institutional investors and hedge funds.

About Simply Good Foods

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.