Simply Good Foods (NASDAQ:SMPL) Sets New 1-Year Low - Should You Sell?

Key Points

• Simply Good Foods' stock hit a new 52-week low, trading at $29.99 on Wednesday with a significant trading volume of nearly 1.15 million shares.
• Analysts have revised their price targets on the stock, with the current consensus target set at $39.88 and ratings varying from "buy" to "hold."
• CEO Geoff E. Tanner recently purchased 6,050 shares of the company's stock, increasing his ownership stake by 6.57% amidst ongoing interest from institutional investors.

The Simply Good Foods Company (NASDAQ:SMPL - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $29.99 and last traded at $30.02, with a volume of 1146598 shares changing hands. The stock had previously closed at $30.66.

Analyst Ratings Changes

SMPL has been the subject of a number of research reports. Sanford C. Bernstein set a $45.00 target price on shares of Simply Good Foods and gave the stock an "outperform" rating in a report on Friday, July 11th. Wall Street Zen downgraded Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Citigroup cut their price objective on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Morgan Stanley raised their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, April 10th. Finally, Mizuho reduced their price target on Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, July 15th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Simply Good Foods has an average rating of "Moderate Buy" and a consensus price target of $39.88.

Simply Good Foods Price Performance

The company has a fifty day moving average price of $32.33 and a two-hundred day moving average price of $34.74. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.94 and a beta of 0.59.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The firm had revenue of $380,956 billion during the quarter, compared to analysts' expectations of $381.68 million. During the same quarter last year, the company earned $0.50 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO Geoff E. Tanner acquired 6,050 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were purchased at an average cost of $33.11 per share, with a total value of $200,315.50. Following the completion of the purchase, the chief executive officer owned 98,190 shares of the company's stock, valued at $3,251,070.90. This represents a 6.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Simply Good Foods

A number of institutional investors and hedge funds have recently bought and sold shares of SMPL. Quadrant Capital Group LLC raised its position in Simply Good Foods by 13.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,517 shares of the financial services provider's stock worth $98,000 after purchasing an additional 300 shares during the last quarter. LPL Financial LLC increased its stake in shares of Simply Good Foods by 3.3% in the 4th quarter. LPL Financial LLC now owns 9,890 shares of the financial services provider's stock valued at $386,000 after buying an additional 315 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Simply Good Foods by 2.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 11,338 shares of the financial services provider's stock worth $442,000 after acquiring an additional 324 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Simply Good Foods by 1.0% during the second quarter. Yousif Capital Management LLC now owns 34,173 shares of the financial services provider's stock valued at $1,080,000 after acquiring an additional 341 shares during the period. Finally, Xponance Inc. boosted its holdings in Simply Good Foods by 5.8% in the first quarter. Xponance Inc. now owns 7,325 shares of the financial services provider's stock valued at $253,000 after acquiring an additional 402 shares during the last quarter. Institutional investors and hedge funds own 88.45% of the company's stock.

Simply Good Foods Company Profile

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.