Simply Good Foods (NASDAQ:SMPL) Sets New 12-Month Low - Here's Why

Key Points

• Simply Good Foods shares hit a new 52-week low of $9.83 on Friday, closing around $9.84 versus the prior close of $10.24.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating, with an average price target of $14.45, despite three Buy ratings and one Sell rating.
• The company beat quarterly earnings and revenue expectations, reporting $0.42 in EPS and $356.98 million in revenue, but revenue fell 6.3% year over year and the company posted a negative net margin of 14.28%.

The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report) shares reached a new 52-week low on Friday . The company traded as low as $9.83 and last traded at $9.84, with a volume of 2496727 shares traded. The stock had previously closed at $10.24.

Analyst Ratings Changes

SMPL has been the topic of several research reports. Zacks Research upgraded shares of Simply Good Foods from a "strong sell" rating to a "hold" rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $14.00 price objective on shares of Simply Good Foods in a research note on Friday, July 10th. Truist Financial set a $11.00 target price on shares of Simply Good Foods in a research report on Wednesday, August 26th. Jefferies Financial Group set a $15.00 target price on shares of Simply Good Foods in a report on Wednesday, August 26th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Simply Good Foods in a research report on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $14.45.

Simply Good Foods Price Performance

The firm has a market cap of $870.46 million, a P/E ratio of -4.53 and a beta of 0.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10. The company's 50-day moving average is $11.28 and its two-hundred day moving average is $12.56.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last released its earnings results on Thursday, July 9th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.35 by $0.07. The firm had revenue of $356.98 million for the quarter, compared to analyst estimates of $332.99 million. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The business's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. Sell-side analysts anticipate that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Simply Good Foods

A number of institutional investors have recently modified their holdings of SMPL. California State Teachers Retirement System increased its holdings in shares of Simply Good Foods by 0.4% in the second quarter. California State Teachers Retirement System now owns 88,477 shares of the financial services provider's stock worth $2,795,000 after buying an additional 383 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Simply Good Foods by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 538 shares during the period. AQR Capital Management LLC grew its position in Simply Good Foods by 3.4% during the 1st quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider's stock worth $656,000 after acquiring an additional 617 shares during the last quarter. Cerity Partners LLC increased its stake in Simply Good Foods by 4.1% in the 4th quarter. Cerity Partners LLC now owns 18,000 shares of the financial services provider's stock worth $361,000 after purchasing an additional 701 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in Simply Good Foods by 3.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 23,120 shares of the financial services provider's stock worth $730,000 after purchasing an additional 750 shares during the period. Institutional investors and hedge funds own 88.45% of the company's stock.

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.

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